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Go-ahead for Candy's £30m Chelsea flats
Peter Dominiczak5 Jun 2009
Property tycoon Christian Candy has been granted permission to build a £30 million housing development in Chelsea.
Despite the effect of the credit crunch on the property market, Kingsgate House on the King's Road is set to be turned into 49 flats as well as three penthouses.
The former office block was bought for £20 million in 2006.
The development had originally been tabled to be the off-site “affordable housing” element of a much larger project — two Victorian hotels in Kensington High Street bought for £69 million.
The hotels were to be transformed into flats worth up to £10 million each, despite opposition from local residents.
But before the building plans got off the ground last year, members of the Abu Dhabi royal family bought the Kensington site for £320 million.
The buyers did not purchase Kingsgate House and the building has remained part of Christian Candy's property portfolio, owned by a Candy Brothers subsidiary company, Kings Fern Ltd.
A spokesman for the company said the development will begin next year and will include 14 “affordable housing” flats.
A council spokesman added: “Planning permission was granted because it is a high -quality building which includes an element of affordable housing.”
Reader views (5)
So, someone wants to build housing for people with some money. First reaction: NO Second reaction:ONLY if they build houses for people with no money. Third Reaction: The building's ugly
Get a grip people.
- Trunk, US, 06/06/2009 16:59
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Kate - I think they mean the servants quarters...
Scott - well spotted that man!
- John T, London, 05/06/2009 16:42
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My son's just built one like that in Lego. Actually, that's a bit harsh: his is a prettier colour . . .
- Roz, France, 05/06/2009 14:44
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A "high -quality building"? It looks exactly like the UBS building on 100 Liverpool St.
- Scott, London, 05/06/2009 12:44
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"Planning permission was granted because it is a high -quality building which includes an element of affordable housing."
"Affordable" to whom? The Abu Dhabi royal family?
- Kate, London, 05/06/2009 12:16
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