Our CEO, Monty Nawaz has lived in St Johns Wood for over 20 years. Since 1991 Monty has noticed much improvement and changes to this exclusive and highly sought after location. He is excited by the sale of the St John’s Wood Barracks and Saffron are already speaking with our Malaysian clients interested in investing in luxury London property.
In 2011 the Eyre Estate put up the 5.5 acre plot for sale. It was expected that all the major central London property players including Grosvenor Estates and the Candy brothers would look at the barracks, however in November of the same year the Eyre Estate, a family trust, surprised all by selling the plot to Kuala Lumpur born Ananda Krishnan, one of the richest businessmen in Asia, who acquired the barracks for £250m.
Planning permission has been granted for 74 upmarket houses and flats, including one semi-detached villa of close to 10,000sq ft, and 59 affordable homes. The site has total saleable space of 359,000sq ft.
Earlier this year the Kings Troop and Royal Horse Artillery paraded St Johns Wood to say farewell to what was their base for over 200 years. All the existing buildings will be demolished except a Grade II-listed riding school which will be converted into a gym and swimming pool. Although plans are still underway the barracks are sure to be of high quality adding to the distinct character of St John’s Wood.
Who is Ananda Krishnan?
Born in 1938 in Kuala Lumpur, Malaysia to Sri Lankan immigrants. Krishnan is one of the wealthiest tycoons in Asia reportedly worth $9.9b making the top 100 Forbes list.
He has a BA (Honours) Degree in Political Science at the University of Melbourne and Masters in Business Administration at Harvard graduating in 1964. In the early 90’s he began two multimedia companies, Maxis Communications and MEASAT Broadcast Network Systems, Maxis being Malaysia’s biggest cellphone service provider. Also owns stakes in Indian radio and direct-to-home TV. Krishnan being a major philanthropist focuses on developing Malaysia's talent pool by funding scholarships and school programs.
Today, Krishnan businesses under his Usaha Tegas Group with which he acquired the barracks. Usaha Tegas Group spans property development, leisure and entertainment, oil and gas industries and multimedia.
If you would like further information on our Sales, Lettings and Property Management services please email Saffron on: info@SaffronInternational.com
Picture Source: Alison Baskerville Photography / bikyamasr.com