2014 marked a successful year for the Cadogan Estate. Rental income is up 6.5% to £119.9 million and the property portfolio valuation is up 13.5% reaching a new peak of £5.2 billion.
Commenting on the results, Hugh Seaborn, Chief Executive, noted Cadogan’s long term perspective and consistent commitment to Chelsea and Knightsbridge. He explained that: “the business has enjoyed a successful year in 2014 with a total return of 17.2% contributing to an annualised performance over the last five years of 15.9%, which we focus on as a longer term measure. The success of Cadogan is allied to the strength of the London property market which performed strongly last year, both from an investment and an occupational perspective.”
The Cadogan Estate dates back to 1717 when Charles, 2nd Baron Cadogan (1685-1776) married Elizabeth Sloane, daughter of Sir Hans Sloane (1660-1753) who had purchased the Manor of Chelsea in 1712. At this time it included 11 houses, a selection of tenements and 166 acres.
Today the Chelsea and Knightsbridge portfolio comprises in excess of 1,000,000 sq.ft. of retail space, 500,000sq.ft. of office space, 650 short let residential units and 580 other residential units on long leases. In 2014 the outstanding sector was Offices which showed annual growth in value of 22.2% with Retail not far behind with annual growth of 14.8%. Further commenting on the results and on future prospects Hugh Seaborn said “Looking ahead to 2015 and future years, we remain confident that the long-term strategy to develop and enhance the estate will continue to provide consistent and attractive returns and will provide benefits to all our stakeholders.”
