Friday, October 20, 2023
Drivers Jonas unveils Chelsea Barracks to the market
Defence Estates this week announced the marketing launch of Chelsea Barracks, a 5.2 hectare (12.8 acre) site on the Belgravia/Chelsea border, London SW1. The Barracks is the most significant land sale opportunity to come to the UK market in more than a decade, presenting the chance for a purchaser to create a new community on a previously inaccessible triangle of land between Chelsea Bridge Road, Ebury Bridge Road and Pimlico Road. The site is located only a short walk from Sloane Square, King's Road and the River Thames, and overlooks Ranelagh Gardens and the Royal Hospital, Chelsea which lie immediately to the south-west.
The site is to be sold as a freehold, and will be available with vacant possession following the relocation of the Public Duties and State Ceremonial Guard to new accommodation in Woolwich in March 2008.
At 12.8 acres, the Barracks site would be large enough to accommodate Belgrave Square (10 acres), Stamford Bridge (home of Chelsea Football Club) (12 acres) or Lincoln's Inn (11 acres). Because the site can be comprehensively redeveloped, the successful purchaser will have the opportunity to explore a range of development options, subject to town planning considerations. The site is located in the City of Westminster, on the boundary with The Royal Borough of Kensington and Chelsea, and abuts two conservation areas.
Planning support for comprehensive redevelopment has been signalled by both the City of Westminster and the Mayor of London, with residential use likely to be preferred. A planning brief for the site was considered by the City of Westminster planning committee this week, endorsing capacity studies prepared by Defence Estates which show in excess of 1,500 new dwellings being developed. Affordable housing, in line with Westminster's UDP policies, will be required to be developed on site, together with other community benefits.
The marketing and disposal process will be handled by Drivers Jonas, who are
inviting parties to register their interest in purchasing the site by 16 November. A marketing brochure will be sent to pre-registered and other selected parties this week. Copies of the brochure, together with instructions on how to register interest are available to download from a dedicated website www.chelseabarracks.net.
Jon Milward, Head of Drivers Jonas Development team, and partner leading the disposal said: "The Barracks site has already received a lot of attention, but we expect our marketing campaign to attract a lot more interest both in the UK and, particularly, from abroad. The intention of our initial marketing exercise is to identify a shortlist of well funded, credible prospective purchasers, who will then be invited to submit financial offers.
The key determinant for shortlisting will be the purchaser's ability to fund the unconditional purchase, as well as delivering the ongoing development. This is likely to substantially narrow the field and highlights the exclusive nature of the opportunity."
Following a decision on the shortlist, second stage bidding will take the form of a competitive tender with the successful party likely to be identified early in 2007.
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The site is to be sold as a freehold, and will be available with vacant possession following the relocation of the Public Duties and State Ceremonial Guard to new accommodation in Woolwich in March 2008.
At 12.8 acres, the Barracks site would be large enough to accommodate Belgrave Square (10 acres), Stamford Bridge (home of Chelsea Football Club) (12 acres) or Lincoln's Inn (11 acres). Because the site can be comprehensively redeveloped, the successful purchaser will have the opportunity to explore a range of development options, subject to town planning considerations. The site is located in the City of Westminster, on the boundary with The Royal Borough of Kensington and Chelsea, and abuts two conservation areas.
Planning support for comprehensive redevelopment has been signalled by both the City of Westminster and the Mayor of London, with residential use likely to be preferred. A planning brief for the site was considered by the City of Westminster planning committee this week, endorsing capacity studies prepared by Defence Estates which show in excess of 1,500 new dwellings being developed. Affordable housing, in line with Westminster's UDP policies, will be required to be developed on site, together with other community benefits.
The marketing and disposal process will be handled by Drivers Jonas, who are
inviting parties to register their interest in purchasing the site by 16 November. A marketing brochure will be sent to pre-registered and other selected parties this week. Copies of the brochure, together with instructions on how to register interest are available to download from a dedicated website www.chelseabarracks.net.
Jon Milward, Head of Drivers Jonas Development team, and partner leading the disposal said: "The Barracks site has already received a lot of attention, but we expect our marketing campaign to attract a lot more interest both in the UK and, particularly, from abroad. The intention of our initial marketing exercise is to identify a shortlist of well funded, credible prospective purchasers, who will then be invited to submit financial offers.
The key determinant for shortlisting will be the purchaser's ability to fund the unconditional purchase, as well as delivering the ongoing development. This is likely to substantially narrow the field and highlights the exclusive nature of the opportunity."
Following a decision on the shortlist, second stage bidding will take the form of a competitive tender with the successful party likely to be identified early in 2007.
-------------------------------------------------------------------------------------
The new Property Executive business directory is now online. To add a free listing for your company or to search for property companies across the UK click here.
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