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London — Johnny Sandelson, the property entrepreneur developing a luxury-home project for seniors in London’s Chelsea district, is in talks to buy a £100m plot of land in Kensington from a Jesuits group, two people familiar with the plan said.
Sandelson and a group of South African investors have agreed on a deal to buy the 1.1ha King’s Gardens site from Jesuits in Britain, the people said, asking not to be identified because the deal was not yet complete. The developer was considering luxury retirement homes, private apartments and other commercial buildings for the plot, which is about 600m south of Kensington Palace, they said.
Spokespeople for Sandelson and broker CBRE Group, which is advising on the sale of the plot, declined to comment. Nobody from Jesuits in Britain was available for comment.
The UK faces a severe shortage of housing specifically targeted at older people, according to an October 2016 report published by broker Knight Frank. One in 12 people will be 80 years o...
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