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Singapore backed K10 Group unveil £210m expansion plans in Central London

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31st Oct 17 1:12 pm

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Over the last two years K10 Group has done some £250 million of luxury development in Central London, and the developer is currently working on a trio of mansion which accounts for another £210 million in the pipeline – see below. K10 Group is currently looking at acquiring and restoring two more period mansions in Mayfair which include one of the largest properties on Charles Street in Mayfair which could become Mayfair’s largest private home. 

K10 Group has significant financial backing from three major banks – Barclays Bank, EFG (Swiss Bank) and BLME: Bank of London and Middle East. In addition, Kam’s joint venture partner on K10 Group is Ho Bee Land, which is a Singapore publicly listed corporation. 

K10 Group allows Kam Babaee and JV partner Ho Bee Land of Singapore to do development in London’s ultra-prime luxury resi-sector, with ambitions to roll out more K10 Group projects which are typically £35 million to £100 million mansions. 

  • Ultra prime residential developer K10 Group has unveiled Central London expansion plans
  • Developer is undertaking a trio of mansions worth £210 million 
  • Projects are Culross House in Mayfair, Amberwood House in Knightsbridge and Doughty House in Richmond 
  • Culross House is valued at £35 million; Amberwood House at £75 million and Doughty House at £100 million 
  • Doughty House is the most expensive restoration project (£62.5m) for a private house in London 
  • Company also plans to acquire several buildings and sites in Mayfair in order to become the leading ultra-prime house developer in Mayfair and the wider West End 
  • K10 Group focuses on acquiring historic buildings and important sites in world-class addresses
  • Delivering exceptional one-of-a-kind luxury residential projects
  • Projects include private palaces, mansions, trophy houses and outstanding lateral apartments and penthouses 
  • K10 Group has offices in London’s Knightsbridge and is led by founder and Chief Executive Kam Babaee
  • K10 Group focuses on the finest addresses in London’s ‘platinum triangle’ – Knightsbridge, Mayfair and Belgravia
  • Alongside trophy projects in other world-class addresses such as The Bishop’s Avenue, Wentworth and Richmond  
  • The company has developed in excess of £250 million of ultra-prime real estate 
  • Has a three-year pipeline of trophy residential projects with GDV values ranging from £35 million to in excess of £100 million 
  • British business entrepreneur Kam Babaee spent his early childhood in 1970s Tehran 
  • 1970s Tehran, like Dubai now, was an international hub for global tourism, inward investment, luxury retailing and premium housing
  • Kam’s father was a successful property developer
  • Kam’s family built houses, apartments and villas for the business elite who flourished under the Shah and his glamorous wife Queen Farah 
  • The Royal palaces of Niavaran, Golestan and Sadabaad and his father’s luxury property projects inspired Kam and have given him a lifelong passion for historic buildings, restoration projects and luxury residential development  
  • In 1979 Kam was sent to boarding school and later University in Britain; fell in love with London and has never left, choosing to make the capital his home 
  • Refurbishing apartments in his spare time, Kam initially worked in the luxury automobile sector
  • Building up a business with 18 showrooms showcasing Mercedes, Ferraris and Lamborghinis and other world-class brands 
  • From 2000 onwards he began purchasing and refurbishing apartments and houses
  • Initially in West London and from 2004 in Prime Central London
  • In 2008 he officially launched K10 Group
  • The company invests in quality not quantity
  • Typically undertaking 2-3 projects per year, with a focus on trophy assets and complex sites 

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