Lord Cadogan, the head of the landed estate which owns around 93 acres in Sloane Square and the King's Road in Chelsea in West London, has died aged 86.
In a statement, the Cadogan Estate said: "He led a full life. He found enjoyment and amusement readily and was wonderful company, gregarious and voluble. He described himself as a ‘countryman’ and whilst his family business has been very successful under his stewardship, he felt most comfortable in the role of philanthropist."
Lord Cadogan went to Eton. He became a second lieutenant in the First Battalion of the Coldstream Guards serving in Germany before working for Schroders in the City for 16 years.
He left Schroders and joined the family business, the Cadogan Estate, in 1974. Following the retirement of his father in 1979 began a reorganisation of the estate so that it could take a more active and creative approach to managing the area.
The statement said: "He changed the business from being a traditional collector of ground rents from long leaseholders, to providing the foundations that allowed them to become masters of their own destiny, carefully curating the mixture of occupiers of the shops and restaurants and initiating improvements in managing the whole Estate in a cohesive way for the long-term."
Under his leadership, the business bought the Harvey Nichols store to gain control of the anchor at the northern end of Sloane Street. The barracks on the King’s Road was bought and developed to create the Duke of York Square which now provides a focal point for Chelsea. He also led the development of Cadogan Hall, a new classical concert hall which was converted from a defunct church.
The estate added: "He cared intensely for Chelsea, having had a home there all his life. He was particularly enthusiastic about supporting those who were committed to the community or who had served with distinction in Kensington and Chelsea. Cut price rentals for flats continue to be provided to nurses, teachers and police officers; he insisted on the provision of grace and favour accommodation for a myriad of deserving people including retired bishops, vicars and charity workers, so that they could see out their retirements peacefully and rents are still frozen for the elderly on the estate."
In 2012 he was recognised in the Queen’s Birthday Honours, awarded with the Knight Commander of the Order of the British Empire’ for his philanthropy. He was a great supporter of Chelsea Football Club having been a director for 20 years and a past chairman.
He is survived by his wife Dorothy, his three children Anna-Karina, Edward and William; grandchildren Philippa, George, Charlie, Alexander, Alice, Elizabeth and Beatrice. He is succeeded by his son Edward who becomes the 9th Earl Cadogan.
Last week the estate posted a 5.4% or £263 million increase in its portfolio to £5.1 billion in financial results for the year ended 31 December 2022.
The results show the estate emerging strongly from the pandemic as well as batting off the value declines that have bedevilled UK property since interest rate rises in the second half of last year.