Residential valuation and sales for the Royal Borough of Kensington and Chelsea
The Royal Borough of Kensington and Chelsea wished to undertake the redevelopment of various disused basement storage areas in a number of converted Victorian properties on its Elm Park Gardens estate in Chelsea. Its aim is to bring vacant and derelict accommodation back into use, to improve the visual amenity of the area and to increase the local housing stock.
The project, which is to be self-financing, involves the development of 36 new flats, of which 13 flats are to provide an assortment of Key Worker housing and social housing. The remaining 23 units are to be sold to adjoining leaseholders or in the open market. The open market sales are to finance the social housing provision.
Cluttons is advising the council on the marketing and valuation of the properties which are to be sold to adjoining leaseholders or in the open market. The sales will generate total revenue of approximately £11m.
Cluttons also advises the Royal Borough of Kensington and Chelsea on other aspects of its residential property portfolio.
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