Alchemi Group has bought 23 Buckingham Palace Road, SW1, for £3.5m.
The 4,817 sq ft building has planning permission for seven flats, and the firm intends to link it to its property next door at 21 Buckingham Palace Road.
LPA Receivers sold the asset which previously belonged to Foxbarn.
Charlie Baxter, managing director of Alchemi, said: “The acquisition continues our focus on buying prime central London development sites with potential to add value in numerous ways.”
Savills advised the vendor. Alchemi was not represented.
joanna.bourke@estatesgazette.com
