More flats to rent in the London borough of Kensington and Chelsea?
People who are looking for flats to rent in London may be interested to hear that 15 new luxury apartments are being constructed in Chelsea.
Private equity firm the Carlyle Group, working with residential property developer the Athos Group, has purchased the former Chelsea College of Arts land and intends to begin work at the end of the year.
By 2012, the centrally located site near King's Road, which cost the buyers £40 million, is expected to house 15 new flats with parking, as well as two villas.
Carlyle's managing director Robert Hodges said that the acquisition "represents an excellent opportunity to invest in an asset class which has proven its resilience over the course of the recession".
The group recently spent over £670 million snapping up six landmark properties in the capital, including Ludgate House on the south bank of the Thames, BSI Tower in Chiswick and Alban Gate in centre of the city.
Posted by Andy Britten
Published 2nd August, 2010
© 2010 Estates IT Limited
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