CapitalRise funded Kensington development achieves record price
A fully-redeveloped luxury apartment in Academy Gardens, Kensington has sold for a record undisclosed figure. This is the highest pound per square foot value achieved to date in the listed building, reflecting the property’s uniqueness and high level of finish. The project was funded by CapitalRise, the prime property finance specialist – with the firm providing loans for the property’s acquisition, development, and sales period.
The agreed sale price was above the Red Book valuation, reflecting the quality of the development. The apartment has been completed to an incredibly high standard, with meticulous attention to detail by CapitalRise’s borrower.
The strong sales value also indicates that demand from buyers remains high in these most exclusive postcodes. By 2028, Prime Central London price growth is expected to be 5%, compared to 3.5% in Greater London and 4% across the UK overall.
The apartment is located in Academy Gardens, the prestigious Grade II listed former Queen Elizabeth College in Kensington, which was built in 1914 and converted to residential use in 2004. The gated complex of 67 unique units boasts a 24-hour concierge, underground car park, gym and leisure suite, all set within beautifully landscaped gardens.
The 4,139 sq.ft. apartment is on the first floor of the building, with additional mezzanine levels. The building’s heritage means it boasts impressive ceiling heights of up to 5m in the main reception rooms, which were part of the original ballroom – creating a bright and spacious environment. The apartment was sold as a ‘turn key’ offering, luxuriously furnished by the development team’s experienced interior designers.
Lee Francis, Head of Origination at CapitalRise, says: “Our team worked closely with the borrower throughout the project, and the quality of the finish he has achieved is outstanding – as reflected in this successful sale. With 14 residential schemes successfully developed in Prime Central London over a 20-year period, it has been a pleasure to work with such an experienced borrower. We hope to provide the funding for his next venture.”
Uma Rajah, CEO at CapitalRise, adds: “Prime Central London property is a unique part of the London, and wider UK, residential property market. Based on our years of lending experience, we believe there will always be strong demand for the best products in the most desirable postcodes. The sale achieved here shows this continues to be the case. With around £500m of capital to deploy in 2025, CapitalRise is keen to continue supporting experienced borrowers with bespoke funding solutions.”
CapitalRise’s borrower, who developed the scheme, concludes: “It was a pleasure to work with the CapitalRise team. As a specialist lender, their knowledge of prime residential developments, like this one, was evident throughout the project. Their flexibility and adaptability were key factors in the success of the development. The entire development team’s commitment to excellence has been remarkable, and I am thrilled with the final result. I hope the new owner enjoys many years of happiness in this exceptional property.”
