 Mohamed Fayed, the then owner of Harrods, had acquired the property, but was unable to secure permission to convert the building to a palatial luxury house on account of its status as a listed building.Cadogan Estates Ltd (the property company owned by Earl Cadogan, whose ancestors have been the main landowners in Chelsea since the 18th century – the nearby Cadogan Square and Cadogan Place are also named after them) purchased the building in 2000.It was refurbished in 2004 by Paul Davis and Partners architects at a cost of £7.5 million.