What will £518m buy you? How about 1,450 flats in Chelsea, 33 ground floor prime commercial units, a roundabout, two private roads, 6 acres of landscaped gardens, several fountains and water features and a 1,500 space underground car park! Or so say EK RCAs who have just completed their latest 9-figure reinstatement cost assessment!
Of course this does not include the enviable Thames view or the 7 acres of freehold development land next to Imperial Wharf train station, which presumably you would have to trouser up a further half-billion. As with all RCAs it is a given that the land is owned by the insured or their freeholder in the first place. But for those of you who have followed the incredible transformation of Imperial Wharf over the past 20 years this is probably not hard to construe. Granted, it’s hard to believe that this go-to destination for London’s prime set used to be a no-go area of leering sewage works and derelict industrial sprawl. The only footballers who frequented this particular patch of SW6 before the millennium climbed over fences to get in, and probably played with jumpers for goalposts.
Or so we imagine…
We are getting increasingly familiar with this particular patch of Chelsea as we’ve just been instructed on the neighbouring development of Chelsea Creek! So stay tuned until next month for our case study bulletin on that development.