The London Daily News

Property News

A deal worth £300 million for an acre of land in Chelsea has underlined the voracious appetite amongst institutional investors to build prime residential developments in some of the capitals most exclusive areas.  

Orion Capital Management a European hedge fund, is reported by the Financial Times to have agreed to build a £300 million housing complex to compete with other prime residential projects like One Hyde Park completed by Candy and Candy earlier this year.

Property analysts are reporting that because of London's being perceived as a bolthole for international investors, with a strong legal system and liberal culture, and easy access to the continent and the US, foreign buyers are pouring money in with one property analyst Aref Lahman of Orien Securities said to the FT:  

"Residential property in London is trading like gold at the moment.  If you are a billionaire and you want a safe place to put some cash London real estate is a bolthole".

The Chelsea site which has planning consent in place for six apartments, a duplex penthouse and detached villas, prices will range from £25million and go up to £35 million.

Image credit: The Glebe Chelsea website