Citygrove and McLaren Properties are reported to have paid the John Lewis store chain around £200m for The Clearings, a storage depot near King’s Road in Chelsea. The project will comprise the development of 62 luxury apartments and seven townhouses in the heart of Chelsea and when finished is thought to be worth £900m.
Commonly known for selling sportswear through his Sports Direct brand, this deal marks Mike Ashley’s first major development in the luxury residential market in west London. The billionaire is said to have bought the prized development site in Chelsea through one of his companies, Mash Holdings.
