Native Land and Grosvenor on Friday confirmed the acquisition of a prime residential site in Chelsea for £50 mln (EUR 59 mln) and announced a £90 mln facility from Barclays Real Estate to finance the development of 100,000 sq ft (9,200 m2) of residential accommodation.
Native Land and Grosvenor on Friday confirmed the acquisition of a prime residential site in Chelsea for £50 mln (EUR 59 mln) and announced a £90 mln facility from Barclays Real Estate to finance the development of 100,000 sq ft (9,200 m2) of residential accommodation.
The site was acquired from Jon Gershinson and Simon Davidson of Allsop, acting as joint fixed charge receivers for Alpha Place Developments.
Upon completion, the development will comprise 25 apartments for open market sale, 13 on-site affordable flats, a resident’s only leisure facility and 47 underground car parking spaces. Alpha Place is Native Land and Grosvenor’s fourth joint venture in the high-end London residential market.
