Multi-Million-Pound Home Extension Knightsbridge

Cheung Chung-Kiu’s multi-million pound-home extension Knightsbridge, raised the bar for property investment in the capital. However, shortly after that, John Caudwell’s property purchase and residential renovation Mayfair project, raised the bar even more. Thus, after 2020 was a record-breaking year for London property investment and residential refurbishment, we look closer. In our last post, we looked at the Hong Kong billionaire real-estate investor’s plans for 2-8a Rutland Gate, Knightsbridge. Here, we look closer at why this project was so attractive to the property expert.

Who is Cheung Chung-Kiu?

• Chairman, executive director and founder of CC Land Holdings Ltd
• 2007 – present
• Also, a board member at Cross-Harbour Land Holdings and Palin Holdings Ltd
• Ranked 843^rd on Forbes’ World’s Richest People List
• Official company website

Home Extension Knightsbridge Controversy

Several years ago, Westminster City Council banned homes larger than 1,615 sq ft. However, since 2-8a Rutland Gate was already a designated single dwelling, plans for the home extension Knightsbridge will materialise. Westminster City Council’s ban affects prime London areas, such as Knightsbridge, Belgravia and Mayfair. Moreover, the local authority also announced plans for 10,000 new homes before 2040.

The Cheesegrater – Leadenhall Building, 122 Leadenhall Street

The Knightsbridge property is Cheung Chung-Kiu’s second property investment in London. A few years ago, his company also purchased the iconic “Cheesegrater” skyscraper.

• Bought by CC Land for £1.15 billion in 2017
• Built between 2011 and 2014
• Previously owned by British Land and Oxford Properties
• Height: 225 metres
• Biggest property purchase after HSBC tower was sold for £1.18 billion
• In January 2021, Ukrainian energy giant Dtek agreed to pay a record rent of £110 per sq ft, on the top floor of the Leadenhall Building

CC Land Holdings’ record-breaking deals to acquire property in London show the potential of our capital. However, Westminster City Council’s ban means home extension is the best option for property owners in areas such as Knightsbridge, Belgravia and Mayfair.