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Building work underway at the Flood Street entrance to Antiquarius.

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The landlords, the retail property investment company London & Associated Properties (LAP), have yet to receive the council's consent for their development plans, and dealers at the centre say they feel LAP have steamrollered through these changes, leaving them feeling intimidated and fearing for their livelihoods.

Dealer Association LAPADA have accused LAP of bullying the dealers at Antiquarius.

The landlords told around 12 traders earlier this month to move their stands out of the area facing the Flood Street entrance. Now a plywood partition has been set up that that runs through the middle of the antiques centre. It is thought that the landlords are creating a new retail unit for another fashion shop or international chain. With workmen busy renovating the space, this has caused significant disruption to trade.

None of the dealers that ATG spoke to were willing to go on record, fearing that the landlords would terminate their licences. Many have had to sign new agreements with LAP, which requires the landlords to give little or no notice should they wish to evict them.

However, a number are members of the dealers' association LAPADA whose chief executive Sarah Percy-Davis said: "The property company has been acting in a thoroughly bullying manner towards their tenants throughout. They are damaging the livelihoods of small dealers, some of whom have been trading in Antiquarius for over 30 years. We are very concerned about our members and we have also been contacted by local residents who are up in arms about the loss of one of Chelsea's most popular tourist destinations."

Back at the end of last year LAP applied to the council for a "certificate of lawful proposed use or development" which would allow them to alter the internal structure of the property.

The council's planning committee has yet to decide on this application but, controversially, the landlords have begun renovating nonetheless. Now that the building is listed, the changes would in theory require "Listed Buildings Consent" in order to be permitted. The council have now contacted the landlords saying that work should be stopped.

Antiquarius has been an antiques centre since late 1970s and currently has over 50 dealers. The building itself is a fine example of Arts and Crafts architecture, built in the 1920s by the Temperance Movement.

LAP also own another historic building on the King's Road, the former premises of the Chenil Gallery which they acquired in the same deal with former owners Atlantic Estates. They recently applied to demolish the French Empire-style building and replace it with 13 luxury flats, but were forced to withdraw that application.

LAP also bought The Mall in Camden Passage from Atlantic where dealers are fearing for the future as well. Here LAP have issued eviction notices to the 30 traders and applied for Listed Buildings Consent to remove the shop units from where the dealers operate. They are reportedly planning to sell it to a supermarket.

However, after Islington Council called on LAP to withdraw the application, a meeting took place between town hall chiefs and LAP chief executive John Heller. With a number of the dealers present at the meeting, Mr Heller said he was willing to listen to alternative ideas which would allow the traders to stay.

When contacted by ATG, no one at LAP was available for further comment.