_£750+ million development opportunity comes to market in Kensington
Acting on behalf of an offshore family office, global property consultancies Knight Frank and Savills have been jointly instructed to launch Heythrop College in the sought-after W8 area of London. The 2.7-acre site is situated on Kensington Square approx. 100 metres to the south of Kensington High Street in the heart of London’s Royal Borough of Kensington & Chelsea.
The site, which has a GDV of £750+ million, benefits from a substantial planning permission.
In August 2020, permission was granted for the site to be redeveloped into a 320,000 sq ft (gross) seniors housing scheme comprising 142 senior housing apartments, five affordable housing apartments, and three private residential townhouses.
The scheme has been designed by Kohn Pedersen Fox Architects (KPF), with landscape architecture by Andy Sturgeon. The scheme will have a high-specification finish and state-of-the-art facilities.
The scheme allows for the conversion of an existing Grade II college building and three townhouses to the north of the site and significant new build accommodation to the south – all arranged around a large private garden square.
The consented scheme will enhance the current site within the local area, including increased permeability, mitigation of the adjacent London Underground Line, and an enhancement of landscape quality through a series of connected gardens and courtyards.
In addition to the consented scheme, it may be possible, subject to the necessary consents, to explore alternative uses, including private residential, hotel, education, and healthcare.
Knight Frank and Savills Seniors Housing and Residential Development Land teams are working on the sale.
Tom Scaife, Head of Seniors Housing at Knight Frank said: “Heythrop College is a unique large development site located in the heart of Kensington, which holds planning consent for a substantial seniors housing-led scheme. Sites like this are extremely rare; as a result, we have already received significant interest from major developers and investors internationally.”
Tim Whitmey, head of London Development Land at Savills, commented: “Arranged around a landscaped square, in a highly desirable part of London, close to Kensington Gardens and the amenities of Kensington High Street, this site represents a once-in-a-generation development opportunity.”
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