Overview
As a long-term family business, we believe that it is vital to create an equitable and thriving city for future generations. Contributing towards a flourishing and sustainable community has always been central to Cadogan’s strategy and purpose.
‘Chelsea 2030’ is our commitment to integrating sustainability into every aspect of our business. The strategy sets out ambitious environmental targets to reduce our carbon impact and to contribute to a healthier London, along with community contributions which amount to over £4.5m annually towards positive social impact, including a subsidised keyworker housing portfolio, as well as employment and skills support.
While 2024 saw strong progress towards many targets such as green infrastructure, waste management and a significant drive towards ‘green leases ’ across both our commercial and residential occupiers, reducing carbon emissions remains our most pressing and challenging area.
To ensure that our carbon reduction is genuine, it is essential that we have high-quality, consistent data across our portfolio. We have improved our data sets to ensure a consistent baseline for measurement – 92% of tenant data is now primary data, compared to c. 50% in 2023. This clarity is informing an ongoing review of our net zero pathway to ensure we are creating meaningful, long-lasting change. To do this, it has become clear that we need to work even more collaboratively with our community, as most of our carbon footprint is Scope 3 emissions – produced by
occupiers in our buildings and developments on the Estate. 2025 will see the launch of a tenant engagement campaign to accelerate our collaborative drive in energy and emissions reductions.
Creating social value lies at the heart of our commitment to a sustainable future. Our key partner in much of this philanthropic work remains The Kensington + Chelsea Foundation. Cadogan continues to be their Principal Supporter, covering the majority of the organisation’s core costs to ensure that they reach grassroots initiatives across the Borough. In 2023 – 2024, 106 local projects were supported, reaching over 23,300 of our most disadvantaged and vulnerable residents.
Cadogan Hall celebrated its 20th anniversary this year and to mark this, launched a new charitable partnership with Nucleo, who use music to empower young people, build communities and change lives. It is the only programme of its kind in England – providing instruments and all activities free of charge, they make a high-quality musical education possible for all.
This year also saw the launch of the Cadogan Community Grant Programme, in partnership with The Kensington + Chelsea Foundation.
This new initiative will support projects that foster a strong community and encourage sustainability, by bringing locals together and helping to make a difference where it matters most.
The following pages bring this work to life, reviewing our performance against ambitious targets and outlining both our successes so far and the challenges faced in achieving them:
1. Environmental Sustainability:
▶ Carbon emissions
▶ Waste
▶ Air quality
▶ Green infrastructure
2. Community Investment and Social Impact:
▶ Enhance community cohesion and improve community wellbeing
▶ Maximise local employment and skills development
3. Community Engagement and Customer Commitment
£90m decarbonisation programme
£4.5m+
community projects fund, including £1.1m annual subsidy of keyworker and community housing (£4m in 2023)
92%
customer satisfaction score, with a Net Promoter Score of 60, against an industry benchmark of 14.2 (88.6% in 2023)
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Environmental Sustainability: Carbon Emissions
Meeting net zero is at the heart of our environmental strategy. During 2024, our decarbonisation programme took further shape, with a focus on delivery, scale and impact.
Decarbonising the Portfolio – Ongoing Initiatives
WHOLE-BUILDING DECARBONISATION PILOT
WINDOW UPGRADES
MAJOR BOILER UPGRADES
Replacing key centralised boilers with low-carbon solutions
The table to the right shows the programme outline and demonstrates the breadth of action needed. Retrofitting buildings remains one of the most impactful interventions, and engagement with key stakeholder groups remains a critical priority: occupiers and supply chain make up a significant portion of our value chain emissions. Our engagement programmes with these key groups leverage established partnerships to influence and drive shared reductions in these indirect emission areas.
A
Data-Driven Approach
to a Low-Carbon Portfolio
The overarching principles for successfully retrofitting historic buildings are well established. In 2024, we analysed these retrofit principles in the context of Chelsea and our net
zero ambitions. We took it back to basics – counting windows and boilers across the Estate, while employing dynamic simulation modelling to test various interventions for a pilot decarbonisation project. We also deployed targeted heat and electricity metering at some of our largest heating plants, to better understand how the buildings operate and ensure more tailored and efficient retrofit solutions.
This work is laying solid foundations to deliver our £90m decarbonisation programme. This includes a programme to add secondary glazing to 6,000 windows, identifying the largest and oldest central boiler installations and progressing the replacement of the existing plant with air-source heat pumps – a change that will save 85% in carbon emissions in the lifetime of just the first phase of eight buildings (just
under 17,000 tCO2e by 2050). We further developed simple whole life cost and carbon models to get a holistic understanding of how interventions would perform over the long term.
While looking at individual buildings in detail, we are also exploring the potential for a district heating network to take an area-wide approach that could deliver low carbon heat to many buildings across the Estate.
SOLAR PV INSTALLATIONS At Cadogan Hall and Block B at Duke of York Square
DISTRICT HEATING NETWORK (DHN) FEASIBILITY
EPC UPGRADE WORKS
OCCUPIER ENGAGEMENT & BEHAVIOURAL INTERVENTIONS
The network would have the capacity to serve large buildings across the Estate, mainly on Sloane Street
All new commercial fit-outs are achieving EPC B as a minimum. For domestic units, EPC works are addressed as part of the lease event cycle and during refresh works
Energy efficiency pilot launched in Q4 2024, involving detailed energy monitoring and efficiency interventions, aiming to determine effective and replicable measures. The second stage would invite further occupiers to pledge to behavioural and low-cost actions based on pilot findings
SUPPLY CHAIN ENGAGEMENT
EMBODIED CARBON IN DEVELOPMENT
Programme involving 140 suppliers now in its third year. Well over 100 suppliers submitted their carbon footprint, and more than half have passed rigorous quality checks
All major projects undergo embodied carbon assessments and target reductions aligned with best practice
Landlord emissions, high impact: electrification will remove oil and gas emissions; the first eight installations could save 17,000 tCO2e by 2050[1]
Landlord & tenant emissions, medium impact: zero carbon electricity generated, meeting a portion of these buildings’ electricity needs
Landlord & tenant emissions, high impact: low-carbon heat provided centrally could decarbonise the Estate’s largest buildings
Tenant emissions, low to medium impact: EPCs and Net Zero alignment is complex but their basic principles are complementary. In 2024 commercial A–B rated EPCs increased to 40% (2023: 31%), and residential A–C ratings increased to 79% (2023: 75%)
Tenant emissions, low to medium impact: low- and no-cost interventions can lead to approximately 10% energy cost reductions[2]. Given the size of tenant emissions (around one third of total), this reduction could have a sizeable impact
Supply chain emissions, high impact: with high dependence on third parties and industry maturity
Development emissions, high impact: with high dependence on market maturity and product availability
1 Accounting for the decarbonisation of the grid in accordance with UK Government projections as of August 2024
2 The Carbon Trust, The business case for energy efficiency
Spotlight on Data – Carbon and Energy
Streamlined Energy and Carbon Reporting
* Historical data has been restated where new, more accurate data has been obtained. Refer to the Methodology section for more information + We have obtained limited assurance on 2024 Scope 1 and 2 Greenhouse Gas emissions and associated landlord energy consumption (metrics identified with a + on the table) Energy relating to transport (including business travel) is very low and therefore excluded from the table above, but
in our
carbon footprint (Emissions Data)
Renewable Energy Generation
Following the installation of solar photovoltaic (PV) panels on our headquarters in Duke of York Square (which generated over 65 MWh in 2024), we progressed further installations on two of our largest roofs: a 120-panel array on a residential block in Duke of York Square and a 240-panel array on the historic Cadogan Hall. Both installations have now received planning permission and works are due to be completed in 2025.
MEES Compliance and Green Leases
As a result of the targeted campaign to improve the energy efficiency of our buildings and our wider decarbonisation approach, our EPC A–B ratings have risen from 31% to 40% of commercial premises, while A–C ratings for residential have also risen from 75% to 79%.
Over 80% of Cadogan’s commercial leases are now ‘green leases’ (70% in 2023), with tenant-landlord collaboration at their heart and a future-proofing requirement for premises to achieve an EPC rating of B or better. First deployed in 2015, there are now more than 350 green leases across our commercial
portfolio. We have also more recently introduced green lease clauses in our residential tenancy agreements, with just under a quarter of tenancies now featuring these.
Data Collection Improvements
First introduced in 2023, our approach to occupier data collection through the energy database was completed in 2024 and resulted in just under 92% actual tenant emission data (previously calculated using industry benchmarks). This compares to less than 1% in 2019, a statistic that demonstrates the progress in this area and with it the level of confidence we can now have on our data.
Given this fundamental change in methodology, to enable a meaningful comparison over the years we are now evaluating how best to address historic tenant emissions and how that impacts our Net Zero Pathway.
Right Pavilion Road
Emissions Data
Scope 1 and 2 Landlord emissions represent those under our direct control and include fuel that we procure directly. These have reduced by approximately 2.5% compared to the previous year and are 10.5% below the 2019 baseline. The reduction translates to a small decrease in overall energy (gas and electricity) procured directly. Building energy intensity slightly increased from 175 to 176 and remains 5.4% below the baseline year.
In terms of Scope 3, a key contributor is occupier operations – where we have a varying level of influence and associated timelines. With increased confidence in our energy data set, we can now better target interventions to the appropriate portion of emissions. Carving and disaggregating our carbon footprint in more detail enables us to focus on impact – and a key parameter to that is the level of control over the emission category.
Emissions from buildings with long leases[3] will be a long-term target, with the short- and medium-term focus being on those where lease events and ongoing occupier interactions enable interventions. While total tenant emissions show an increase year on year, the growth of the Cadogan Income Fund (67% by property valuation) accounts for 1,365 tCO2e of the 2024 total (long leases excluded). When excluding emissions associated with planned
growth, we are seeing a decrease of 1.7% in total tenant emissions (and 5% when excluding long leases).
In terms of consumption, when excluding long leases, there is a decrease in gas and increase in electrical consumption, a trend which aligns with electrification of heat. However, drawing any conclusions from these comparisons must be done with caution: the source of tenant energy data has changed in 2024, meaning that year-on-year comparisons may be less informative when trying to explain trends.
Total emissions from development projects and purchased goods and services were approximately 28,300 tCO2e, higher than in 2023, reflecting additional investment in regeneration and construction works.
Case Study: Cygnet House – A pilot project for the delivery of practical building retrofit
Cygnet House is an early 20th century building comprising 29 apartments on the King’s Road. Its current oil boiler must be replaced to meet operational and sustainability goals – and with external redecorations and roof works scheduled over the same timeline, it provides an ideal pilot project for a whole-building decarbonisation approach.
A building energy model was developed that allowed simulation of various retrofit options. A whole life cost and carbon calculation was undertaken for windows (reviewing double and secondary glazing), while options for replacing the oil boiler included air-source heat pumps (AHSP) and direct electric heaters, rather than the standard practice of a gas boiler.
The combination of energy, cost and carbon models for windows enabled us to take a holistic view – the analysis indicated that secondary glazing is the most effective intervention for the building.
In terms of heating, AHSP were optimal from a carbon perspective but carry the highest installation costs. As energy is metred in the building, ASHP is the preferred solution to help bring costs down for the building. Installation is planned for summer 2025.
All works will be carried out with tenants in-situ, requiring careful planning of strip-out and installation works, with temporary heat sources in place to ensure comfort and continuity for residents. The combination of secondary glazing and ASHP will reduce the energy consumption in the building by around 60% and result in over 70% reduction in the building’s CO2 emissions in just the first year of operation.
Case Study: Window Upgrades at Scale
It has been a priority to accelerate window improvement works to improve the thermal performance of our buildings and prepare for lowcarbon heating solutions. The size of the challenge was assessed through a residential window count that totalled just under 9,000 windows across the Estate. Of those, almost 6,000 presented opportunity for interventions to improve thermal performance.
In parallel, we established the most appropriate intervention to deploy at this scale: replacing existing windows with new, double-glazed units or adding secondary glazing to existing windows. After considering several parameters including energy use reduction, installation and maintenance cost, constructability and speed of deployment, heritage constraints and the condition of the existing windows, we concluded that secondary glazing is the optimal solution to deploy at scale and speed. Buildings have now been grouped into a phased programme to be delivered over the next five years.
Case Study: Central Boiler Installations
Removing gas from landlord installations is one of the most impactful and direct interventions. In 2024, we selected the first cohort of eight buildings and conducted feasibility and technical design to quickly reduce their carbon emissions through the installation of low-carbon heating solutions. It has been identified that an 85% reduction in carbon emissions can be achieved over a system lifetime up to 2050, a total of close to 17,000 tCO2e.
To evaluate optimal low-carbon solutions, we compared a number of alternatives, including replacement of gas boilers. The resulting reductions in emissions, installation costs and future fuel costs were all considered to select the best solution for each building. The results support the well-established industry fact that air-source heat pumps will outperform other electric solutions from a carbon and energy perspective. Design work also underlines the importance of actual energy data. We fit meters to show how heating, hot water and electricity is being used, enabling designers to refine sizing assumptions and develop bespoke solutions that reflect the actual needs of the building and its occupants, resulting in lower upfront installation costs, longterm energy savings and contribute to lower embodied carbon emissions over the long term.
Case Study: Supplier Engagement and Use of Technology
Our suppliers remain key stakeholders. We have invested in upskilling and supporting SME suppliers with their emission measurements through a programme of workshops and a dedicated learning framework. In 2024, we continued to support this group through offering an easy-to-use platform that can accurately measure, track and report supply chain emissions. This tool also enables suppliers to calculate their carbon footprint[4], harnessing AI technology to categorise each spend line to the most appropriate emissions category. The platform also provides a database of emissions reduction ideas and the ability to calculate and track science-aligned emission reduction targets.
In 2024, over 100 suppliers directly submitted their emissions data, helping us together to reduce our collective carbon footprint while making a meaningful contribution towards addressing the skills gap in the wider industry.
‘Thank you for all your support on this. We really do appreciate this carbon initiative. Without you we would be floundering around with desire and no action.’ Hub Property Care
Left Aerial view of Sloane Street, Knightsbridge and beyond
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Environmental Sustainability: Waste
Waste remains a key focus and a fundamental consideration for our occupiers. In 2024 we continued to invest resources into supporting our occupiers with our shared recycling targets, and construction projects continued to meet high standards in waste reduction and management.
Operational Waste
Waste generated by our occupiers’ operations at Duke of York Square and Pavilion Road accounts for over half our commercial operational waste by weight[5]. These areas have therefore been the focus of an intensified waste-reduction engagement programme in 2024. This includes quarterly waste audits to identify common issues causing contamination and reducing the recycling rate. Following each waste audit, we meet with occupiers in-store to review outcomes and individual actions with them.
A survey conducted during ‘Recycling Week’ helped us to identify key
opportunities to improve recycling rates, clearly indicating the need for further staff training (particularly cleaning staff), as well as bin signage and placement. The annual recycling rate has remained stable at Duke of York Square at 40%, however we have seen two positive trends: a small (1%) reduction in the overall amount of waste and a 30% increase in the volume of food recycling. At Pavilion Road, the recycling rate has also stayed relatively static (51% 2023 vs 50% 2024), however the data shows a significant drop in overall weight of waste, from 778.3 to 599.5 tonnes. This is partly due to improved data quality, as we have moved from estimated data to actual data, with trucks now using innovative weighing technology.
5
TARGET
Zero non-hazardous waste to landfill and majority recycling or reuse
Construction Waste
Our recycling rate remained stable at 94% (with a further 1% reused), outperforming our 90% target. In 2024, we trialled a reuse platform and delivered training to key contractors to help improve their fit-out environmental reporting data. As with operational waste, this strengthens the quality and robustness of our construction data set. Our construction and fit-out waste has dropped by 20% in 2024 (6,656 vs 5,336 tonnes), largely due to the stages of various projects reaching completion.
Case Study: Weekly market at Duke of York Square
In Autumn 2024 we trialled food waste bins at the Saturday Market, a food market held in Duke of York Square which attracts around 10,000 visitors each week. The trial showed high contamination in the public-facing bins, while trader bins were used well. In 2025 we will focus on introducing further recycling streams to the market, while simultaneously working to ensure that the public-facing contamination stays low enough for this to be viable.
Left The Duke of York Square Saturday Market
themed Easter Market
Duke of York Square
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Environmental Sustainability: Air Quality
To improve monitoring and contribute to greater understanding of air quality patterns, causes and improvements in London, Cadogan continues to sponsor two air quality monitoring stations located at Sloane Street and Sloane Square as part of the BreatheLondon network.
Data collected by this sensor network monitors PM2.5 particulate matter and Nitrogen Oxide levels is made publicly available and contributes to the Royal Borough of Kensington and Chelsea (RBKC)’s Air Quality Action Plan.
Contributing to Pollution Removal
2024 marked the completion of the Sloane Street public realm project which included the planting of 105 trees along with significant climateresistant planting at ground level. ‘i-Tree Eco’[6] was used to compare the ecosystem service benefits associated with this project, with air pollution removal one of the key metrics[7].
The analysis shows positive pollution interception and removal, which will increase 33% immediately following project completion and 300% at the 30-year mark (measured as kg air pollution removed/year). This is especially important given the location within an Air Quality Management Area (AQMA) and ensures that the greening of the site aligns with the Council’s Green Plans to improve air quality in the Borough.
Supplier consolidation, zeroemission transport and EV charging infrastructure
Left
Artist Amy Jackson’s living sculpture on Sloane Square
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Environmental Sustainability: Green Infrastructure
The Estate is situated in one of the most heavily urbanised areas of London. Faced with increasing urbanisation putting pressure on local natural ecosystems, Cadogan is seeking to redress this balance through considered and informed planting and green infrastructure management.
2024 saw a 17% increase in our urban greening factor from the baseline (2023: 13%), largely achieved through our Sloane Street transformation project which has created a stunning green boulevard spanning from Knightsbridge to Sloane Square, with a diverse and climate-resilient mix of flowers, shrubs and over 100 additional trees. The planting scheme, delivered in partnership with RBKC and designed by multiple RHS Chelsea Flower Show award winner Andy Sturgeon, is not only beautiful, but also delivers significant biodiversity gains.
Modelling shows that the scheme delivered a 175% improvement using the Statutory Biodiversity metric (SBM), successfully increasing the number of biodiverse habitats on site.
In particular, the additional trees (increased from 39 to 141), saw tree cover increase by 51%, predicted to rise further by 214% in 30 years’ time as the trees mature.
In addition, an assessment of the natural capital value of ecosystem services[8] showed impressive uplifts of over 100%. The largest gains were delivered in relation to water availability (+300%), water quality regulation (+225%), erosion protection and flood regulation (both +200%). The scheme has also boosted climate change mitigation through
improving carbon stock by 67%, and a 44% boost to carbon sequestration, forecasted to rise further to 631% by the thirtieth year. Finally, the street greening also improves air quality and provides a 33% increase in pollution removal value.
The significant street greening will generate both short- and long-term benefits and is a proactive step towards tackling biodiversity decline and enhancing the climate resilience of our portfolio.
The report concludes that ‘Cadogan is positioning itself as a champion for a more sustainable future for RBKC and London more widely’[9] .
‘As we aim to make and keep our borough’s streets the best in London, the new and improved Sloane Street is the standout example. This corner of Chelsea has always been very special – with a shopping experience to rival Paris and New York. Now it is even better, with spacious pavements and beautiful greenery creating a street that makes you want to stick around and enjoy the area. We are fortunate to have Cadogan as a partner, working with the Council to make these improvements happen.’ – Cllr Elizabeth Campbell, Leader of Royal Borough of Kensington and Chelsea
Water Enhance Community Cohesion and Improve Community Wellbeing
‘The Kensington + Chelsea Foundation has unparalleled knowledge about issues affecting local people and grassroots charities that address them. Working together enables us all to make a bigger difference and reach those who need it most.’ – Hugh Seaborn
Despite being a highly affluent borough, nearly 1 in 4 (23%) of Kensington and Chelsea neighbourhoods are amongst the poorest in England and Wales. We share The Kensington + Chelsea Foundation’s vision of a borough where everyone has the opportunity to live happy, healthy, fulfilled lives and support their mission to tackle the most vital issues in the community around education, health and employment.
The Foundation remains our key partner in much of this philanthropic work. Cadogan continues to be their Principal Supporter, covering the majority of core costs and has donated £1.25m since 2011 to ensure that they reach grassroots initiatives across the Borough. In 2023–2024, 106 local projects were supported, reaching 23,300 disadvantaged and vulnerable residents.
Launch of the Cadogan Community Grant Programme
In September 2024, we launched the Cadogan Community Grant. This supports local projects which foster a thriving community and a sustainable environment in Chelsea, awarded to organisations based in our geographical focus area (see right) which demonstrate a clear understanding of the issues facing the local community and deliver programmes that address them.
The Grant will be awarded twice annually to reach £30,000 donated each year, ensuring both longterm security and impact.
Applications are considered by The Kensington + Chelsea Foundation, representatives from Cadogan, feedback from local authorities and key members of the community. The first round of funding was awarded in January 2025.
Right
Community Housing
Cadogan commits over £1.1 million each year to subsidise affordable, community and keyworker housing. This ensures that many people, including local teachers, nurses and police officers, can afford to live at the heart of the community to which they make a valuable contribution.
St Giles Trust SOS
Careworker
Cadogan has funded a dedicated caseworker through the St Giles ‘SOS Programme’ since 2020. This charity uses expertise and real-life past experiences to empower and engage people held back by poverty, exploited, dealing with addiction or mental health problems, or caught up in crime. Over the past year, this caseworker has provided intensive mentoring and support to help young
people move away from criminal exploitation, serious youth violence and criminal activity.
In 2024, he worked with 21 children and young people (the majority aged 16–24), directing them to re-engage with education and improve their relationships and wellbeing. His intensive mentoring, guidance and support has enhanced young people’s feeling of safety, reduced their levels of risk and increased community safety:
▶ 97% of clients are at reduced risk*
▶ 15 re-engaged in education or upskilled in training
▶ 10 were supported with job searches and training opportunities
* at case closure as measured by professional judgement, risk/closing assessments and self-evaluation
Case Study: Jay’s* Story
‘I am over the moon with my home, as it allows me to live in the borough that I work in. Without Cadogan, I wouldn’t be able to afford to live here. Their key-worker housing makes a big difference to people who work in healthcare. I appreciate what they do for us.’ – Nurse at Chelsea & Westminster Hospital
Jay was 13 when he was referred to the caseworker, following an incident in which he was subject to a serious assault by six older boys. Jay had been exploited by these older boys, who had given him vapes to sell and were now demanding money and threatening violence if he did not comply. As well as understanding his exploitation, the St Giles Trust SOS caseworker identified that Jay had low self-esteem and confidence, which meant he struggled to stay focused in school despite a keen interest in science.
Since October 2024, alongside weekly sessions with his caseworker, Jay has had frequent sessions with his mentor,
who helps him to stay engaged in constructive activities, giving him consistent support and a positive role model. He also has weekly boxing sessions, helping him manage stress, build self-discipline, and channel his energy positively. The caseworker has ensured a holistic co-ordination of support for Jay, with regular meetings with his mum and school staff to identify concerns and help to manage his behaviour.
Jay’s confidence has significantly increased as a result of the activities, and while he continues to exhibit some defiant behaviour, he is continuing to work together with his caseworker to stay on track for the long term.
*Client name changed to protect anonymity
Right
Keeping the community connected
Accessibility and Public Realm
Cadogan focuses on creating healthy spaces and supporting community wellbeing – we are committed to high standards of accessibility and inclusivity. We believe that the space between buildings is as important as the property itself and investing in high-quality public space is vital to the wellbeing of community. 2024 saw the completion of Sloane Street as a greener ‘boulevard’ from Knightsbridge to Sloane Square, the creation of Chelsea Manor Street as a new destination focused on delivering creative uses for the local area as well as planning approved to create a new public area at Duke of York Square.
In 2024, Cadogan created opportunities for hundreds of people to take part in activities benefiting their health, including school and community use of the Duke of York Square running track with sports days, running clubs, yoga and walking tours.
In partnership with AccessAble, one of the UK’s leading providers in accessibility information, we offer detailed access guides to each of our destinations, making crucial information available to visitors so that they can ensure a safe and enjoyable visit to Chelsea.
Cadogan Hall
2024 marked the 20th anniversary of Cadogan Hall. Cadogan transformed a disused place of worship into a world-class music venue, to create a community gathering place, safeguard a characterful Listed building and celebrate Chelsea’s artistic and musical heritage. We continue to subsidise the maintenance and running of what is now one of London’s leading concert venues and home to the Royal Philharmonic Orchestra, as well as a lively programme of theatre and debate.
This year saw the Hall announce a charitable partnership with Nucleo, a charity dedicated to empowering young people through collective music-making. It is the only programme of its kind in England – a free, immersive, ensemblebased after-school programme for students aged up to 20. Providing instruments and all activities free of charge, they make a high-quality musical education possible for all, with 51% living in the poorest 20% of neighbourhoods nationally. Nucleo offers children and young people the opportunity not only to learn music, but also to develop the learning and life skills that playing an instrument can offer, and to build lifelong friendships by growing up as part of a strong, connected musical community.
‘We had been seeking to establish a charitable partner and upon discovering Nucleo, it became immediately apparent that our shared values, aspirations and commitment to community were perfectly aligned. We look forward to playing our part in supporting Nucleo, its ambitions and the tremendous work they do.’ – Adam McGinlay, Managing Director of Cadogan Hall
Opposite Yoga at Duke of York Square
Left
The Nucleo Project, Cadogan Hall’s charity partner
The Cadogan Charity
As a shareholder of the business, the Cadogan Charity receives 4.15% of Cadogan’s dividends, totalling over £1.9m in 2024.
The Cadogan Charity is managed by the Cadogan family and chaired by Lord Cadogan, separately from business operations, and has continued to grant donations to both local and national charities of in excess of £13m over the last five years – to causes including London’s Air Ambulance service, The Children’s Trust, Glassdoor, The King’s Trust and Alzheimer’s UK, in addition to cultural icons such as the Saatchi Gallery and Royal Hospital. The family also supports and chairs the London Playing Fields Foundation, which transforms lives through sport and physical activity by protecting and promoting London’s playing fields, running social inclusion projects and directly managing several grounds across the capital.
Chelsea Heritage Quarter
The Chelsea Heritage Quarter is London’s newest heritage destination. It launched in 2024 as a close collaboration by The National Army Museum, the Royal Hospital, Chelsea Physic Garden and Cadogan. It brings together these four remarkable
institutions to tell a unique story of London and Britain from 1660 to the present day. Including magnificent architecture, military history and London’s oldest botanic garden, the Quarter presents a fascinating and wide-ranging experience for those interested in exploring Britain’s history. The partners look forward to co-programming activities and events for visitors throughout the year and contributing to a Chelsea that is creative, vibrant and enjoyable for all. The Chelsea History Festival will be their flagship annual event each September.
‘The Chelsea Heritage Quarter is one of the UK’s most remarkable and fascinating heritage destinations, which tells a unique story of London and Britain from 1660 to the present day. Chelsea is a vibrant, exciting and picturesque neighbourhood with a fascinating history and we are delighted to be able to further highlight the breadth of heritage here through this new collaboration.’ – Hugh Seaborn
Community Events Programme
Our programme of over 60 complimentary events for the community this year was enjoyed by thousands of people and included Chelsea Dog Day, the Chelsea in Bloom floral festival, London Fashion Week celebrations, a weekly food market and running club. The Chelsea Christmas Lights switch-on saw the King’s Road part-pedestrianised for a spectacular day which welcomed thousands for an afternoon of enchanting entertainment, culminating in a 360-degree explosion of lights and music. Organised by Cadogan, the day was busier than ever, seeing a footfall uplift of over 58%, while the event raised profile and funds for The Kensington + Chelsea Foundation. The Chelsea Awards returned to the Royal Hospital, to recognise and celebrate those who contribute so greatly to Chelsea’s unique character, with hundreds gathering to see awards for categories including ‘Only in Chelsea’ (awarded to the Saatchi Gallery) and ‘Cultural Champion’ (won by Green & Stone). Cadogan is also principal sponsor of The Chelsea History Festival, which aims to entertain, educate and inspire through local, national and global history and the Chelsea Art Society’s Summer Exhibition.
The Chelsea Awards at The Royal Hospital
Dog Day
The Chelsea History Festival
Case Study: Place2Be
Carol Concert at Holy Trinity Church
Cadogan partnered with Place2Be once more, to raise funds for vital mental health support for children and young people across the UK. The annual carol concert, held at local Holy Trinity Church, Sloane Square, saw a cast of incredible performers and artists –including actor Simon Callow and mezzo Soprano Laura Wright – along with primary school children create a sparkling evening which raised a phenomenal £100,000 to support the vital work.
Case Study: Chelsea in Bloom
With this year’s ‘Floral Feasts’ theme, Chelsea in Bloom welcomed joyous floral installations throughout the neighbourhood and saw the highest levels of footfall ever recorded. London’s largest free flower festival is organised by Cadogan, in collaboration with the RHS.
From a giant interactive ‘Very Hungry Caterpillar’ in Sloane Square to Winnie the Pooh picnicking with friends on Royal Avenue, 115 incredible displays enticed visitors to explore the florally adorned stores, hotels and restaurants. This year, charity partners included The Felix Project, for whom we raised funds through sales of a limitededition t-shirt, and not-for-profit Confetti Club, who recycle petals to create confetti with proceeds going to Cancer Research.
Case study: Glassdoor Big Sleep Out at Duke of York Square
Rough sleeping in London is at its highest levels since records began. Cadogan once more hosted the ‘Big Sleep Out’ in 2024 to support local charity Glassdoor, providing targeted and long-term transitional help for the homeless. This one night in October alone raised over £66,000 for the charity.
Glassdoor provides year-round advice through a team of expert caseworkers and co-ordinates London’s largest emergency winter shelter network. They save lives and create a route out of homelessness for good. Over the past 12 months, the need for Glassdoor’s services has surged, with a 30% increase in the number of people accessing its caseworkers for support. Last winter, there was an 80% increase in demand for a space at its emergency winter shelters.
Place2Be Carol Concert at Holy Trinity Below
Central display on Sloane Square as part of Chelsea In Bloom ‘Floral Feasts’
Right Glassdoor Sleepout at Duke of York Square
Water Maximise Local Employment and Skills Development
The Royal Borough of Kensington and Chelsea contains one of the most diverse communities in the country, with the wealth and outcomes gap widening even further in the past two years[10].
The number of residents in the Borough claiming in-work benefits increased from 2,139 people in 2020 to 3,125 in 2023, a significant rise of 46%[11]. 5,100 RBKC residents are not in employment yet wanting to work (2023: 5,500)[12], and this has driven our decision to continue to invest in supporting local skills development and recruitment.
Employment
Opportunities
Co-ordinator
In 2020, we created the role of Employment Opportunities Coordinator (EOC) – jointly funded in partnership with RBKC. This role is dedicated to working proactively with local businesses to support their recruitment requirements, while simultaneously creating employment opportunities for local residents.
This work focuses on residents in marginalised communities, young people and the long-term unemployed. Outreach is undertaken in some of the most deprived areas of
the Borough, such as the World’s End Estate, meaning that the EOC has developed a deep understanding of the barriers into work faced by residents most in need and how these can be overcome. This entails working with businesses to identify and support their recruitment needs, while sourcing, screening and preparing candidates for local positions, and delivering recruitment and training activities and events to connect residents with potential roles.
In 2024, the programme worked with over 100 employers and approximately 200 local residents, assisting them with their job goals, CV development and preparation for interviews. Of these, over 70 candidates were submitted for roles, 27 of whom were successful in securing a role at employers such as Balibaris, OSKA and Jigsaw. 70% had previously been longterm unemployed – meaning these placements could have a lifechanging impact.
This brings the total number of residents employed via the EOC to 66 over the last two years, over a third of whom are still employed in the same position.
Pathways to Property
Pathways to Property has had a considerable impact on raising awareness of careers in property and supporting young people from diverse backgrounds who aspire to enter the industry. Cadogan has been supporting the programme since 2016, helping young people from across the country learn more about the property industry and the opportunities available to them. In 2024, Cadogan’s contribution has directly supported:
▶ 6 participants at Summer School
▶ 4 participants at an Insight Day
▶ 2 work experience bursaries
▶ 61 students engaged at a school event
Each summer, we offer work experience and guidance to young people who might not otherwise have access to such opportunities. We have also created a bursary through the Worshipful Company of Chartered Surveyors, funding a student from an underprivileged background through their Real Estate degree and providing support and guidance along the way, including work experience with the Cadogan team.
‘We are excited to be building a strong partnership with Cadogan, linking local businesses with residents who need help to get on the employment ladder. This is an innovative collaboration which focuses on sustainable outcomes by bringing local businesses and communities closer through often lifechanging chances.’ –
Albena
Karameros, Employment and Skills Manager, RBKC
‘My colleague and I first heard about the recruitment support when the EOC popped into our Chelsea store. We had been looking to recruit a full-time team member and had tried all the usual channels but couldn’t find the right fit for our team. The EOC was in touch a week later with a prospective candidate, who we employed and is a great asset to the team. I couldn’t recommend this service enough and only wish it was available in other locations in the UK.’ –
Duke
of York Square Store Manager
‘I lost my job this year and it was devastating. I really had to work hard at picking myself up and staying focused. One day I was walking through my estate on my way to do some shopping – there was a man sitting at a table with a flip chart saying “Job help”. He helped me restructure my CV and set me up with a job that was tailor-made for me. He even helped negotiate my contract. I’m dyslexic and a mature citizen and I’m so thankful for your help.’ – Resident on World’s End Estate
WaterOur Community Engagement and Customer Commitment
We are committed to delivering an outstanding experience for our customers who live and work within the Estate, to foster long-lasting relationships and contribute to a strong sense of community across the neighbourhood.
Our Team
We listen carefully to customer feedback and respond accordingly where we can. We receive real-time feedback through our customer research partner RealService[13] which provides the insight to improve continually the customer experience and helps to shape our business strategy.
(against an industry benchmark of 14.2)
Our team regularly volunteer for local causes, supporting the local community not only across the Estate, but also in the wider community. Staff members volunteered over 40 hours in 2024 to local causes including: mentoring and tutoring a bursary student; discussing careers in property with other local students; mock interviews; and assisting a site transformation for a charity which supports adults with learning difficulties. We also donated clothes to help women returning to work and put together Boxes of Hope with Christmas presents to bring festive cheer to vulnerable community members.
Communication and Engagement
We are in frequent contact with our customers, neighbours and the wider community throughout the year. This helps us to understand their priorities and work in partnership, as well as keeping them informed.
Our interaction includes the ‘Welcome Pack’ received by all occupiers on arrival to the Estate, regular newsletters and magazines, seminars for our retail and hospitality customers to update them on neighbourhood news and working closely with them on destination marketing and events programmes. In 2024, we hosted seven breakfast briefings with over 820 attendees, providing an opportunity to network and share these neighbourhood updates.
Cadogan launched the King’s Road Privilege Card scheme in 2022, which has grown significantly to over 13,000 members and 100 participating businesses. It aims to encourage localism – supporting businesses while rewarding residents and local workers for doing so.
All of our residential and commercial customers receive complimentary access to our premium Cadogan
Concierge service, which assists with day-to-day requests as well as bringing our community closer together – retail customers benefit from reaching an exclusive residential audience, while our residents enjoy invitations and exclusive offers from the array of shops, restaurants and cultural attractions on their doorstep.
Road, each works independently to reach a combined audience of over 400,000 both locally and beyond, keeping followers up to date and creating continual reasons to enjoy the local area, or visit Chelsea.
This extensive information helps customers become familiar with the area and their new home or business space, as well as informing them of the services we provide.
The team ‘on the ground’ includes Area Supervisors who live locally and are key to our customer-facing service provision. They are usually ‘first responders’, central to our 24/7 emergency response capability and carry out regular inspections of all buildings. The feedback on this team consistently highlights how approachable, friendly, helpful and knowledgeable they are.
Our newsletters, magazines and digital channels ensure that we keep audiences across the Estate informed.
From Sloane Square magazine to Cadogan VIP and destination websites, newsletters and social feeds from the King’s Road, Sloane Street, Duke of York Square and Pavilion
Cadogan initiated and led the creation of two new neighbourhood Business Improvement Districts (BIDs) in 2022 – the King’s Road and Knightsbridge Partnerships – which are now firmly established and making a difference to occupiers across the estate, securing significant new private sector investment into the district over five years, focusing on pressing issues such as security, environmental upgrades and promoting the area.
Net Promoter Score (NPS)
Consultation
We are constantly investing in upgrading the Estate through maintenance, restoration, refurbishment and redevelopment activities – allowing us to enhance the wider environment and deliver homes and business space that meet the needs of our customers.
Our aim is to be exemplary in the way in which we consult and engage locally, because it is crucial to understand local views and keep the community informed. Through this approach, we build trust and are able to adapt and respond to the changing needs of society, customers and markets. This helps to ensure the area remains relevant and desirable to both residents and visitors, now and for the future.
Our Suppliers
We work with a wide range of external advisors, contractors, suppliers and partners and particularly value long-term relationships with people and organisations who share our values and desire to deliver excellent results. They are expected to operate ethically and responsibly, ensure high standards of health and safety and support a positive relationship with our customers and the communities within which we operate. We pride ourselves on being a good client that
consistently treats our suppliers fairly and transparently, while expecting commercially competitive outcomes.
We host events and webinars for groups such as construction contractors, through which we can share knowledge and best practice on topics including sustainability, health and safety and community engagement. Our suppliers are selected carefully because we see them as an extension of our own team, working in genuine collaboration, motivated by the same values and highest of standards.
STATEMENT OF COMPLIANCE WITH SECTION 172 OF COMPANIES ACT 2006
Throughout 2024, the Directors have performed their duty to promote the success of the Group under section 172 of the Companies Act 2006, taking consideration of:
▶ The likely long-term consequences of decisions
▶ The interests of stakeholders, including amongst others: employees, customers, suppliers, local authorities and local communities, by engaging with them to understand the issues to which they must have regard
▶ The impact of our actions on our local communities and the environment
▶ The company’s purpose and values including maintaining a reputation for high standards of business conduct
▶ The need to act fairly between members of the Group
The Cadogan Group has an association of over 300 years with Chelsea, where it has been and remains the largest landowner. The Group has always taken a long-term view, promoted by its members who see it as their duty to hand over the business to the next generation in a better condition than they inherited it, and strongly supported by the Board. The Group’s success is judged by its members not only on measures of commercial returns but also its reputation, based on the way it deals with and treats its stakeholders and local communities.
Our core objectives, set out in page 4 of this report, encapsulate the above.
More information on the Group, its purpose and relationships with stakeholders is provided in the Strategic Report pages 10 to 32, Our Community pages 34 to 51 and our website:
www.cadogan.co.uk
Below Brunello Cucinelli’s extensive new store on Sloane Street
GRI Standard Disclosure References
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