Kensington and Chelsea builders to jostle for piece of the action as planners consider luxury development on school site.
Builders in Kensington and Chelsea are hoping to land a series of lucrative contracts if the borough’s planning officers give the green light for 69 luxury apartments to be built on the site of the old Holland Park School.
The Borough of Kensington and Chelsea sold the freehold for the site for £100 million to part-finance the construction of a new school nearby, making it one of the biggest residential deals of recent years.
Kensington and Chelsea builders are now rubbing their hands with excitement as the local authority seems poised to sign off on the plan, having already granted permission for a marginally more modest development at the Campden Hill site.
The project would be a joint venture between Native Land and Grosvenor and could provide a massive cash injection to builders in Kensington and Chelsea in 2013 when work is expected to begin.
The proposed scheme follows three luxury residential joint ventures between Native Land and Grosvenor in central London, including NEO Backside which is nearing completion as the demand for prime residential property continues to grow.
Native Land chief executive Alasdair Nicholls claimed the site presented an “opportunity to create a
world class, design-led, residential development of international standing that will appeal to both the local and international markets.”
Clinton Foakes, who runs a Kensington and Chelsea builders firm of the same name said: “We are obviously delighted that there appears to be yet another new cash injection into our area which will result in more building contracts.
“As builders we are undoubtedly happy that Kensington and Chelsea’s local planning policy appears to be behind exciting new luxury developments in this highly desirable area of West London.” He added.
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