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28 August 2015

Residence One, the luxury residential developer run by brothers Benjamin and Nicholas Wilson, has swooped on a £10.5m townhouse on one of London’s most prestigious squares.

The prime central London specialist has completed the acquisition of the leasehold of the six-storey Grade II-listed 70 Chester Square (pictured) from Grosvenor Britain & Ireland.

The purchase, which exchanged in the weeks before the UK general election, reflects a price/sq ft of £1,406 - the lowest paid for a property on the square in many years.

The deal was funded by Sol and Eddie Zakay’s Topland Group and the Bank of London and the Middle East.

Residence One plans to transform the property into a luxury residence complete with a spa pool, steam room, gymnasium and cinema room, expanding the size of the property to 7,467 sq ft.