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Kensington and Chelsea College Development
Securing Kensington and Chelsea College’s future utilising existing property assets without the need for external funding.
- Kensington and Chelsea College Development
The BriefC&W were originally asked to undertake a review of the College’s Accommodation Strategy, and assess the relationship between the College, the Council, both as landowner and planning authority, and the preferred Development Partner, The Osborne Group and Manhattan Loft.
SolutionC&W reviewed the College’s special needs as a provider of higher education and advised KCC on securing a Development Agreement for the provision of a new college building. The College was seeking to provide modern and efficient new premises and at no capital cost.
The College’s objectives were identified. The key goal was to fund essential development and upgrade the remaining college estate by exploiting the development value of surplus land and buildings held by the College.
C&W undertook scenario planning and promoted a strategy for the delivery of the College’s key goal. C&W successfully negotiated the exchange of a conditional Development and Sale Agreement with the nominated partner, Manhattan Loft/ The Osborne Group securing a significant capital sum to fund the New College premises, and securing the necessary LSC approval to the proposal.
In order to secure best value for the College site, we also advised both the College and the developer in respect of the S106 negotiations. We consulted with the Local Authority and managed the tendering process in order to secure a Registered Social Landlord who acquired the Affordable units at the most favourable level.
ConclusionThe Development & Planning team’s advice has secured the College’s future utilising existing assets without the need for external funding. Contractors are currently on site and the new college building is due to open in July 2011.