Posted on June 22, 2012

The Qatari investors masterminding a £1 billion overhaul of the Chelsea Barracks today sold a luxury apartment block next to the site for £147 million.

Project Red, a subsidiary of Qatari Diar, the property development arm of the Qatar Investment Authority, has sold Moore House to developer London & Stamford.

Moore House, immediately to the south of the barracks in Ebury Bridge Road, is one of three blocks in the Grosvenor Waterside scheme bought by the Qataris from the original developers in 2004. The price paid by London & Stamford values each of the block’s 149 flats at close to £1 million each.

Qatar Airways Network

Chairman Ray Mould said: “The central London residential market continues to show signs of strong rental and capital growth and we are delighted to have acquired this prime property.”

Moore House will be the first property to go into the developer’s £200 million joint venture to snap up residential property in the capital.

source: London Evening Standard