Mike Ashley is the secret figure behind a deal to build £900m worth of luxury flats and townhouses in Chelsea.

The Times are reporting that a deal was done on Friday night to buy the prize development site from John Lewis.

The newspaper exclusive says that the Newcastle United owner is the mystery figure behind Citygrove and McLaren Properties, who paid John Lewis £160m for the land and also a £40m payment for the relocation of nearby Marlborough primary school.

There will be seven townhouses and 62 flats built on the former storage depot land, which already has planning permission for the development, with the total value when built estimated to be worth around £900m, when completed.

The Times also report that the funding is understood to have come from MASH Holdings which is where all of Mike Ashley’s shareholdings are held, including his ownership of Newcastle United.

In his drive to become the richest person in the UK, Mike Ashley is clearly intent on diversifying ever further and last week his MASH Holdings announced profits of £542m in their latest financial figures.

The irony won’t be lost on many Newcastle fans, with the football club’s place in Mike Ashley’s empire is to create profit and provide free promotion for all of his brands.

Massive profits that one of the poorest areas of the country is helping to drive, being spent on property speculation in one of the most affluent areas of the UK.

While some fans will be feeding the ducks in Leazes Park, it will be interesting to see if Mike Ashley turns up today to see his shambles of a club play against what is alleged to be the team he supports, in a stadium with potentially thousands of missing season ticket holders, all in front of the TV cameras.

Only at Newcastle United.



  • NottsToon

    I don’t care what he does with his money, I just wish he’d f**k off to Chelsea for good.

  • David Lambert

    I bet that gladens the hearts of folk still daft enough to hand over their hard earned to fatty. The thought of my money going towards a toffs new billet would sicken me to the core.

  • Andrew Swift

    The day Fatty sells up and takes a box in Stamford Bridge to watch HIS team is the day we have the biggest party EVER.

  • Paul Patterson

    What’s wrong with focusing on ONE business and doing it brilliantly (That doesn’t mean for personal gain) and leaving other business areas for others to excel in. Rather than having fingers in many business pies and annoying everyone in the process.

    Greedy b*****d.

  • SGM

    So what?

  • davidraine40

    “There will be seven townhouses and 62 flats built on the former storage depot land, which already has planning permission for the development, with the total value when built estimated to be worth around £900, when completed”
    It seems an awful lot of bother to make £900.

  • Mark Wallace

    Wonder where he’s getting the money from the poor bloke is skint that’s why we can’t compete with the stoke and Leicester city’s of this world! For all you fans still going to game today WAKE UP!!

  • howay51

    stevewraith hell of a secret then that Steve U0001f602

  • stevewraith

    howay51 thats what i thought

  • IntravenusMP

    A Secret that’s in the Times and public planning application?

    What has this to do with Newcastle United? Why do you care?

  • IntravenusMP

    Paul Patterson Yes, what a terrible chap. Buying brownfield redundant land and developing it, thereby creating employment and creating wealth whilst ultimately creating housing in a (so called) housing crisis. Terrible eh?

    If he only bothered with NUFC, he’d have gone bust in 2009 but luckily for us, he had wealth from elsewhere to bring into us.

  • Maximus Moose

    FCB`s Everywhere

  • IntravenusMP

    Maximus Moose is it any wonder we don’t get any other investors interested in NUFC with prejudiced comments like that

  • Polarboy

    The Ashley employees may want to be a little less obvious, you know don’t just comment on stories that directly critcise Fatley.

  • NottsToon

    IntravenusMP Maximus Moose Any chance of you ever talking about football?