Knight Frank brings consented PCL residential development opportunity to market
The Residential Development London Land team of global property consultancy Knight Frank brings to market, on behalf of Pembridge Developments Limited, a prime residential development opportunity at 1, 2, and 6 Ossington Close, W2, Bayswater, with a gross development value (GDV) of circa £9 million.
28 May 2026
With full planning permission granted in March 2026, the consented scheme offers developers the opportunity to develop two luxury homes and an apartment (all private). The scheme will provide approximately 4,973 square feet of accommodation, alongside private terraces and enhanced access.
Situated within the Pembridge Conservation Area, the property occupies a quiet cul-de-sac just off Ossington Street, a highly sought-after residential enclave characterised by period architecture and elegant garden squares.
The site sits on the northern edge of Hyde Park and Kensington Gardens, with Notting Hill moments to the west, Little Venice to the north, and the West End within easy reach. The surrounding area continues to evolve, with Queensway, just five minutes away, undergoing significant regeneration, further enhancing the areas’ retail and public spaces.
Nick Alderman, Partner and head of central London Land at Knight Frank said: “We are excited to bring Ossington Close to the market. Development opportunities of this nature, with planning in place and located in a prime central London setting, are increasingly limited.”
According to Knight Frank’s latest Land Index & Developer Survey of 60 SME and volume housebuilders and developers, supply remains constrained, with planning delays cited as the key barrier to delivery. The findings point to a clear preference for “oven-ready” sites with full planning, where developers can move quickly to start on site.
Alderman added: “Given the strong appetite for fully consented opportunities, Ossington Close is well positioned to attract developers seeking a boutique, high-quality project in an established and highly desirable residential neighbourhood, set between the charm of Notting Hill and the green open spaces of Hyde Park.”
The property is well connected, with Notting Hill Gate, Queensway and Bayswater Underground stations all within a 6-7 minute walk, while Paddington Station is approximately a 15-minute walk away, providing access to the Elizabeth Line and connections to Heathrow Airport in under 20 minutes.
ENDS
