Athos Group and Carlyle buy Chelsea college site

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The 50-50 joint venture, which marks Carlyle's debut entry into the UK's residential property market, will see the site converted into
15 luxury flats, two villas and parking.

Construction is set to begin at the end of the year and finish in summer 2012.

Carlyle's managing director Robert Hodges said: "This is Carlyle's first residential acquisition in the UK and we believe it represents an excellent opportunity to invest in an asset class which has proven its resilience over the course of the recession."