Colliers International’s London Planning team has secured planning permission for a luxury “extra care” development in Knightsbridge after receiving a unanimous vote of support from the Royal Borough of Kensington and Chelsea’s Council.
Colliers International acted on behalf of Dartmouth Capital Advisors, who represent Beaumont Properties Limited, a wholly-owned subsidiary of Singapore-listed City Developments Limited (CDL).
Strategically located at 28 Pavilion Road, the site is just two minutes’ walk from the Harrods Department Store in Knightsbridge and, in fact, is connected to the department store by an underground tunnel, which is currently disused. The site is currently a 1970s brutalist car park, which will be demolished to enable redevelopment.
The stepped seven storey scheme has a potential development value of some £200 million and will see 34 apartments built, ranging range in size from 1,250 sq ft to 2,110 sq ft. The apartments will be available for sale on 999-year leases.
The island site provides a central courtyard which will be accessible to all resident with a new shared public realm. Facilities within the development include; luxury spa, swimming pool, communal library, private doctor’s surgery, 24-hour concierge, dedicated nurse care rooms and car parking.
Alison Mackay, Senior Planning Consultant at Colliers International, said: “The Royal Borough recently identified a 9% increase in those aged 65 years and over between 2012 and 2037, to 23% overall. The local elderly population will therefore be significantly higher than across London as a whole, which is estimated to reach 17 per cent. It is vitally important that we respond to the challenges of an aging population and this scheme sets a new and clear precedent for high quality in the field.”
Mr Kwek Leng Beng, CDL Executive Chairman adds, “We have worked closely with the Royal Borough of Kensington and Chelsea Council to draw up a scheme that will appeal to discerning residents in retirement. The Borough has a significant stable, ageing, demographic that is asset rich yet whose needs are insufficiently provided for by the current housing stock. We aim to provide a community style of living for this group, supported by excellent on-site medical care, close to local amenities, shops and restaurants.”