The Kingston Bunnings Group, a high-end construction and renovation firm in London, announced this week that it was ending its luxury brand in an effort to focus on building more sustainable homes for its tenants.
The company said it will begin building more “conventional” homes, but that it still intends to continue building luxury homes for tenants and their families.
The Kingstone family, the oldest of the Bunning dynasty, owns Kingston’s London headquarters.
They also own the company’s London-based flagship store in the British capital, the Kingston Centre.
The company’s announcement comes amid a wave of high-profile incidents involving luxury housing, particularly those in the U.K. and Europe, in which luxury properties have faced fire, theft, and vandalism.
In July, a luxury apartment building in Berlin was destroyed by an arsonist, and in February, a hotel in Vienna was burned down by a gang of arsonists who damaged more than 300 apartments and destroyed over 70 cars.
The British government has pledged to investigate the fire and vandalism, but has yet to commit to setting up a royal commission into the problem.
In response to this year’s fire in Berlin, a senior government minister said the government would “do everything in its power” to bring the perpetrators to justice.
In March, the British government announced a crackdown on high-rise luxury properties, including closing several properties that had been listed for sale, and requiring owners to be inspected annually.
In addition to its Kingston home, the company is also working on a new home in London.
Kingston announced in June that it will build a new office building in Kensington, which it plans to christen “The Kingston Group.”
The building, which will house more than 400 staff, will be located in a part of the city where Kingston operates a luxury rental property.
Kingston’s new office will have an average price tag of $1.4 million, up from the current price tag.
The new office also includes a fully furnished, fully equipped, open floorplan office space with a fully stocked kitchen, a fully equipped living room with a wine cellar, and a fitness center.
Kingstone will be the only firm building new homes in London’s Kensington area.
According to a statement from the company, the new home will be a “high-quality, low-key” facility with “an unparalleled location and design, combined with an unparalleled customer experience.”
The company will open the building in 2020, the statement said.
For the past two years, Kingston has operated the Kingstone Group, the second-largest luxury real estate investment firm in the world, and Kingston was also the second largest property investment company in London in 2018, according to the New York Times.
In 2016, Kingstone acquired Kingston, which was then owned by the Binnings family.
In 2014, Kington acquired the King and Lady Bunninger Group.
The Bunningers were founded by Sir Elton John, and Sir Elvis Presley was a shareholder.
The Bunnies, who were the owners of Kingston from 1983 until 2009, were later sold to a group of investors led by the billionaire Richard Branson.