Salboy expands into London with residential development

Salboy has announced plans for its first residential development in London, a 35-apartment scheme in Kensington and Chelsea with a £40m GDV.

The site, currently occupied by a two-storey office building and surface car parking within a private gated mews, was brought to market by Knight Frank on behalf of the owner, Buckthorn Ltd.

James Wallis, partner at Aben Capital, advised Salboy on the acquisition.

Salboy’s construction partner, Domis, will start work on site for the Cluny Mews this month, with the first homes scheduled for completion by the end of 2023. 

Simon Ismail, co-founder and managing director of Salboy, said: “We see London as a key part of our future strategy, and this site perfectly fits our criteria with consented planning for luxurious accommodation with a prestigious address and access to good transport and local amenities.

“We want to replicate the efficiency and quality of our Manchester projects in London and bring the same level of careful and considerate construction to Cluny Mews. 

“We would like to thank Knight Frank and Aben Capital for their efforts and professionalism in getting this transaction to completion.”

Anthony Kazan, partner in the residential land team at Knight Frank, commented: “This was a rare opportunity to acquire a vacant site within an ambitious regeneration area that spans 25 acres, and has already attracted millions of pounds of investment. 

“This is a fantastic acquisition for Salboy’s expansion into London.”

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