Property firm acquires historic Kensington mansion for £100m ‘luxury’ development
A property firm based in London and Monaco has acquired a Grade II listed mansion to transform into a multi-million pound residential scheme.
REDD has acquired One Palace Green as part of its plan to develop £100m collection of new ‘luxury’ homes.
Located on a 0.25 acre plot in Kensington Palace Gardens, overlooking Palace Green and Kensington Palace, One Palace Green was originally built in 1868-1870 as a 17,000 sq ft mansion for George Howard, the 9th Earl of Carlisle.
Designed in Queen Anne revival style by architect Philip Webb, the property featured interiors by William Morris of Morris, Marshall, Faulkner and company. In 1957 One Palace Green was converted into a collection of large lateral apartments by The Crown Estate.
REDD will work with The Royal Borough of Kensington & Chelsea, The Crown Estate, local stakeholders and heritage groups to design a scheme that aims to sensitively restore the existing mansion.
A planning application for the development is anticipated later this year with construction planned for Summer 2022 and completion scheduled for 2024.
Russell Smithers, managing director of REDD, commented: “One Palace Green is a landmark acquisition for REDD and will create one of the top tier luxury residential developments in London.
“We will utilise our in-house development management expertise, with our team of extremely experienced individuals in the fields of heritage restoration and luxury design to deliver the finest new residences on Kensington Palace Gardens.
“We are currently working on initial ideas and look forward to speaking to the local community shortly.”
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