Kensington International

Manufacturers of Kensington and Chelsea are hoping to land a series of lucrative contracts if the planning officers of the district give the green light for 69 luxury apartments to be built on the site of the former Holland Park School.

The Borough of Kensington and Chelsea has sold the freehold for the site for £ 100 million to partially finance the construction of a new school nearby, making it one of the largest residential transactions in recent years.

Kensington and Chelsea manufacturers are now rubbing their hands with enthusiasm that the local authority seems willing to sign the plan, having already granted permission for a slightly more modest development on the site of Campden Hill.

The project is a joint venture between Grosvenor and Native Land, and could provide a massive cash injection for constructors of Kensington and Chelsea in 2013, when work should begin.

The proposed scheme follows three luxury residential joint venture between Grosvenor and Native Land in central London, including the NEO Backside is nearing completion as the demand for prime residential properties continues to grow.

Native Land CEO Alasdair Nicholls claimed the site had an "opportunity to create a world class, design, residential development of international standing that will appeal to both local and international markets."

Clinton Foakes, who runs a business and Chelsea Kensington manufacturers of the same name, said: "We are obviously pleased that there seems to be yet another injection of new funds into our region that will result in more construction contracts.

"As manufacturers, we are certainly pleased that Chelsea and local policy planning Kensington appears to be the source of exciting luxury developments in this highly desirable area of west London." He added.

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