The sale of the McDonald’s building on the King’s Road looks set to be sealed in the coming weeks.

The Citizen has been told that the price has been agreed and all parties are waiting for the paperwork to be finalised before making the deal public.

The company in pole position to buy the iconic property – known as The Chelsea Drugstore in the 1960s – has asked that its identity be kept secret until the deal is signed. It is thought that everything will be agreed by mid-August.

McDonald’s has refused to explain why it closed the King’s Road restaurant.