A prime residential development site in Kensington, W8, has been put up for sale for £20.5m.
Knight Frank and Savills have been appointed to find buyers for the freehold to the 0.2-acre site, which has a £50m GDV and is offered with full vacant possession.
The site, located at 7-17 Ansdell Street, was granted planning permission in September last year for a scheme consisting of 10 private homes.
Planning documents filed with the Royal Borough of Kensington and Chelsea show that the applicant for the development was Asa Briggs Ltd, a vehicle associated with investment firm Fairway Capital and its development partner Leconfield Property Group.
It has an existing four-storey property at the location, Asa Briggs Hall, which was last used as an educational facility and measures 20,717 sq ft across the lower-ground to third floors.
Nick Alderman, head of central London land at Knight Frank, said: “This is a unique opportunity to acquire a development site that has all the necessary planning approvals and is ready for immediate delivery in an undersupplied part of London. Given the nature of the opportunity and Ansdell Street’s prime location in the sought-after borough of Kensington and Chelsea, we expect strong interest from the outset.”
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