THE Sincere group of Hong Kong has teamed up with Marylebone Warwick Balfour Group, the company run by former office developer Richard Balfour-Lynn, to develop three residential properties in London worth GBP55 million (about HK$687.17 million).
The sites are the Rossetti pub in Queen's Grove in St John's Wood, 33-35 Lancaster Gate, and the prestigious one hectare Mount Vernon site in Hampstead.
The scheme at Mount Vernon will have a completed value of GBP40 million and space of 100,000 sq ft. It was described by John Harrison, director of Marylebone Warwick Balfour, as 'the most significant development in Hampstead'.
It will include a swimming pool, tennis courts, a gymnasium and an underground car park.
Work will start first on the conversion of the Rossetti pub into 24,000 sq ft of luxury flats with underground parking.
This will be followed next month by a start on 21 units behind the listed facade at Lancaster Gate.