BlueCo’s acquisition of the 1.9-acre site follows Stoll’s agreement to acquire 128 affordable housing properties in a major new housing development within Fulham. That agreement was secured following the leadership of the London Borough of Hammersmith & Fulham, who worked closely with Chelsea FC and the resident veterans concerned to secure their new homes. Stoll has agreed that every resident from the Sir Oswald Stoll Mansions will be rehomed at the new Fulham site or, if the resident prefers, in an existing Stoll site. Stoll will retain one block, the 400 block, on the site.

Jason Gannon, chief operating officer at Chelsea Football Club, said: 'We are delighted to increase our footprint at Stamford Bridge and take a significant step towards ensuring the long-term financial sustainability of the club.

'We appreciate the opportunity to work with Stoll throughout a competitive tender process and we are pleased to help ensure those veterans that wish to remain inside the Borough of Hammersmith & Fulham will be able to do so. Our thanks go to both Stoll and the local council, whose leadership has been essential to the process.'

Hammersmith & Fulham Council deputy leader Ben Coleman said: 'When we found out about the plight of the Stoll veterans, I asked Chelsea to pause the sale until Stoll had agreed to make no-one homeless and work with the council on finding a suitable site in Fulham that kept the community together. I'm extremely grateful to Chelsea for agreeing to do so and for the way they have worked with us to find a solution that puts the interests of the vets first.

'It has been my privilege to champion the vets who served our country and we are delighted no veteran will now be made homeless and the entire community can stay together in Fulham, where they belong and where we are proud to have them.'

Stoll chief executive, Will Campbell-Wroe, says: 'The completion of the sale marks a transformational moment for Stoll, and forms a central part of our long-standing mission to house and support many more veterans to lead fulfilling, independent lives both now and in the future. We understand that any transition to a new home will be challenging for many of our residents, and we are committed to providing every resident with an enhanced programme of financial, wellbeing and rehousing support – as we have been throughout this process.

'The properties at King’s Road Park will provide a higher standard of living along with being more comfortable, sustainable and energy efficient.'

Will Campbell-Wroe continues: 'For those residents who choose to move somewhere other than a Stoll property, we will provide them with 12 months of support, including helping them to find a new home. Those that move to another Stoll property will remain on the same tenancy they are on now and will continue to receive the same level of support that we have always provided. To be clear, no veteran at the Sir Oswald Stoll Mansions will be left without a home.

'We are also very grateful to Chelsea for its longstanding support for Stoll, through ongoing fundraising initiatives like its Big Stamford Bridge Sleep Out, and its support of the veterans throughout this process. We look forward to continuing to develop this positive partnership with the club.'