The Continuing Saga of the Chelsea Barracks Property Development

In January 2008, ekszer-elek the Chelsea Barracks were sold in what was the most expensive property deal in the UK – £1 billion. Nick and Christian Candy, who are billionaires in their own right and have been known to dabble in the high-end of property market, bankrolled the deal with the Qatari government. Development plans for the Chelsea Barracks included world class housing, a boutique hotel, restaurants, a spa, shops, a sports centre and a publicly accessible park as well as private gardens. gudu

With multi-million Pound flats in the offing, it was to have been the dream of every estate agent in Chelsea, not to mention the saviour of the Chelsea property market. Unfortunately, the deal has been soured with lawsuits, scandals and royal interference, and even though those in the know claim that development of the Chelsea Barracks will go ahead, to outsiders it looks very much as though it has stalled completely. hobbijaim

Even though many people think that the royal family is an antiquated system, when a prince speaks, people pay attention. So, when Prince Charles voiced concern over the intended design plans for the Chelsea Barracks, Project Blue (set up by the Qatari royal family to oversee development of the Barracks), unsurprisingly, started to think twice about the whole matter. Apparently, Prince Charles was so upset by the modern design that he wrote a letter to Sheikh Hamad bin Khalifa Al-Thani, ruler of Qatar.

Subsequently, Project Blue withdrew its application for the high-rise residential towers designed by Rogers Stirk Harbour in favour of some more traditionally-styled low-rise properties that have been designed, rather coincidentally, in partnership with the Prince’s Foundation for the Built Environment. receptek

Meanwhile, the Candy brothers sold their share of the development deal to the Qatari group in November 2008, but the saga of the Chelsea Barracks doesn’t end there. The brothers have filed a lawsuit against Project Blue because they claim that they are owed unpaid fees to the tune of £1 million. Lord Rogers, the architect originally commissioned to design the new Barracks – the abandoned high-rise, designs – is also suing Project Blue for unpaid fees. olcsobbszerviz

And, in another interesting twist, the Candy brothers are being sued in turn by a former property development director for the Chelsea Barracks because he claims he’s owed an unpaid bonus. Andrew Locke claims that the unpaid bonus is a matter of ‘contractual obligation’. A spokesman for the brothers, however, says that Locke was terminated for good reason and that he was paid everything to which he was entitled.


Leave a Reply

Your email address will not be published. Required fields are marked *