Chelsea Barracks site up for sale

MOD property arm Defence Estates this week put the Chelsea Barracks site up for sale. The site is to be sold as a freehold and will be available in March 2008.

Property consutlant Driver Jonas is handling the sale of the 5.2 hectare piece of land - the most likely use for the land will be residential. Interested parties are invited to register interest by 16 November. Copies of the brochure are available from www.chelseabarracks.net

Jon Milward, Head of Drivers Jonas Development team, and partner leading the disposal, said: "The site has already received a lot of attention, but we expect our marketing campaign to attract a lot more interest both in the UK and, particularly, from abroad. The intention of our initial marketing exercise is to identify a shortlist of well funded, credible prospective purchasers, who will then be invited to submit financial offers. The key determinant for shortlisting will be the purchaser's ability to fund the unconditional purchase, as well as delivering the ongoing development. This is likely to substantially narrow the field and highlights the exclusive nature of the opportunity."

Following a decision on the shortlist, second stage bidding will take the form of a competitive tender with the successful party likely to be identified early in 2007.