Record £959m buys Chelsea Barracks for developers

Discussion in 'Current Affairs, News and Analysis' started by Skynet, Jan 31, 2008.

Welcome to the Army Rumour Service, ARRSE

The UK's largest and busiest UNofficial military website.

The heart of the site is the forum area, including:


    From The TimesFebruary 1, 2008

    Record £959m buys Chelsea Barracks for developers Judith Heywood, Deputy Property Editor
    The Candy brothers, the youthful property magnates who develop homes for the super-rich, have completed the deal to buy 12.8 prime acres of Chelsea for a record £959 million, more than three times the amount estimated when the land was put up for sale by the Ministry of Defence.

    The deal for the Chelsea Barracks site, struck in partnership with the Qatari Government, is thought be a British record for a residential plot. It values the site at £75 million an acre; land for development in less affluent parts of London typically costs several million per acre.

    The battle to secure the site dwarfs even the Candys’ own deal, forged in 2004, to buy the Bowater House site overlooking Hyde Park for £150 million. Flats in that 86-unit development, due for completion in two years’ time, are on the market for as much as £100 million.
    More on the link
  2. No doubt in 5 years time it will emerge that they have actually got it 'on the cheap'.

  3. Jock - you old cynic :roll:

    I wonder if they will take some of that £950mil and build a state of the art hospital for injured troops, or some decent housing/barrack blocks. Or kit that works etc...

    Or if it will be part of the Defence Budget "increase", or just disapear back into No 11 :roll:

  4. Biped

    Biped LE Book Reviewer

    Damn, you got there before me. No, the money will be spent on gays, lesbians, outreach workers and Northern Rock.

    What the hell would they want to waste it on the MOD for?
  5. How much of that will actually get back to the guys on ground after estate agents fees, solicitors fees, surveyors fees and of course the executive directors 'cut' and then getting 'mis-allocated' somewhere by the accountants.
  6. £959m, so that will urn out to be £559m for he land £400m in kick-backs to civil-servants and interested MPs with a say in the Home Office.

    I get the feeling some people who are paid to serve the public just got very rich selling off our national assest to another govenment.
  7. Ord_Sgt

    Ord_Sgt RIP

    Well according to the article the money is 'ring fenced' for accommodation. You bunch of cynical bastards.
  9. Didn't Broon announce the other day that he was putting in more money to accommodation. So in fact it's more money that he's not actually having to give out as he didn't actually have it in the first place.

    That would be why I am one of the afore mentioned cynical bar stewards.

  10. Jockster, was just thinking the same thing.

    Didn't he 'set aside' 5bn for accomodation over the next x amount of years?

    So, exactually where is this £959 million going to dissapear to :? :evil:
  11. I expect a delivery of shiny new chairs to the SofS' office in the next week or so. Maybe some modern art in the foyer of Main Building as well.
  12. Greedy, self opinionated, lying, false, worthless, useless, overpaid, stuck up, dirty, robbing B@stards!

    Quick rant off thread, sorry couldn't resist. :oops:

    To any solicitors/lawyers and estate agents reading this: GET STUFFED!
  13. Is that not illegal under the Sexual Offences Act?
  14. You failed to list 'CONSULTANTS' in your orbat and there were a few of these feckers on this deal as well. Money? Old Rope? sound familiar?
  15. £959 mil eh!

    Think of all the relatives you could employ with that.