A consortium called Project Blue has won the bidding war for the 13-acre Chelsea Barracks site for £600m.

The main investors of the consortium include Qatari Diar Real Estate Investment Company and London developer Christian Candy’s property company CPC. The final shortlist included Westbrook with Native Land, Ballymore, Quinlan, Hines and Quintain.

Project Blue based its bid on a development by Rogers Stirk Harbours and Partners, who has been appointed architect. The scheme will comprise of more than 1,500 homes as well as retail, office space and community facilities.

The West London site was the former Ministry of Defence barracks and was originally put up for sale by the MoD in October 2006.