Diary: Decaux splashes out to aid local residents

As far as boroughs go, Kensington and Chelsea has to be among one of the most prestigious and desirable in London. A truly exclusive postcode, which is home to the glitterati, super-rich and famous, it's the kind of place you'd be hard pushed to find a local chip shop or cut-price supermarket at short notice.

And that's the way it's likely to remain if some of its residents so desire. In Holland Park, for example, the residents include Charles Dunstone, the chief executive of Carphone Warehouse, Jean-Francois Decaux, the French outdoor advertising chief, and Viscount Rothermere, whose newspapers include the Evening Standard and the Daily Mail.

The three millionaires live in neighbouring properties. When an estate agent warned that an oil sheik intended to construct a huge eyesore on a patch of wasteland behind their homes, they decided that the best way to scupper his plans would be to buy the land themselves. So the trio stumped up around £8 million to make sure the neighbourhood remains just the way they like it.