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Builders in Holland Park will be hoping to acquire a series of high-value contracts if the borough's planning division gives the go-ahead for sixty-nine luxury apartments where an old school currently stands at Campden Hill.
The freehold site has been sold by the Borough of Kensington and Chelsea for £100 million to part-finance the building of a replacement school nearby, making this deal one of the most lucrative ever.
Holland Park builders are now jostling for position as the borough's planners seem ready to give the luxury development the green light, having already granted permission for a smaller build at the same site.
The project would be due to get off the ground in 2013 and would be a joint venture between Native Land and Grosvenor; potentially providing a substantial cash injection to builders in the Holland Park area.
The proposed scheme would be the latest of a number of luxury residential joint ventures between Grosvenor and Native Land in central London; demonstrating the growing demand for premium accommodation in the capital.
Native Land chief executive Alasdair Nicholls said the project represented an "opportunity to create a world class, design-led, residential development of international standing that will appeal to both the local and international markets".
Clinton Foakes, who runs a Holland Park builders firm trading under the same name said: "We are obviously delighted that there appears to be yet another new cash injection into our area which will result in more building contracts.
"As builders we are undoubtedly happy that Holland Park's local planning policy appears to be behind exciting new luxury developments in this highly desirable area of West London." He added.
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Ealing builders could be looking forward to another boost to business as the borough council has entered into the tendering process to find appropriate developers to undertake regeneration work on the troubled Havelock Estate in Southall.
The project would present opportunities for builders in Ealing to land substantial contracts to rejuvenate the area which has 845 homes and has been blighted by degradation, vandalism and crime in recent years.
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"I would like to reassure residents that we will continue to fully involve them in every part of the process and that we will not enter into any agreement with any developer until we are completely happy the developer's plans are right for the area."
Ealing builders first set to work on the estate in the 1950s, making the estate very dated by modern standards.
The areas identified for improvement are transport links and access and an improved layout of the housing blocks.
It is hoped that the regeneration project on the estate will significantly contribute to the general improvement of the Southall area.
A spokesman for Ealing builders firm Clinton Foakes said: "Of course, we welcome the council's decision to embark on this project, which if anything is overdue considering the poor condition of the dwellings on the Havelock Estate.
"Ealing builders like us are acutely aware that there is only a finite amount of space in our little sector of the capital and it is important from a social and business perspective that the potential of this space is maximised to make it as efficient, attractive and practical as possible." He added.
