The Berkeley Group has sold its 40% interest in Chelsea Harbour Limited for £10.8m.
The interest has been sold to the other members of the consortium who purchased the company from P&O last March: Compco Holdings, Chelsfield and privately-owned Mansford Holdings.
The purchase will increase Compco’s and Chelsfield’s holding in Chelsea Harbour Limited to 40% each and Mansford’s to 20%, valuing the development at £67.5m.
The scheme is home to the Chelsea Harbour Design Centre and also provides 24,500 sq m (263,000 sq ft) of commercial space, 310 homes, a Conran hotel, a 50-berth marina and 951 underground parking spaces. Just off the Kings Road, the site provides 6.72ha (16.6 acres).
Tony Pidgley, MD of Berkeley said: “Following an approach by Chelsfield and Mansford, together with Compco, to buy our interest, we have taken the opportunity to realise the capital invested and our profit share to reinvest in new developments.” The buyers were advised by Michael Elliott.
EGi News 19/04/01
