BlueCo have completed the acquisition of a 1.9-acre site, which houses the Sir Oswald Stoll Mansions.
Chelsea and Stoll have been consulting with the London Borough of Hammersmith and Fulham Council over the purchase.
The site includes 128 affordable housing properties, and contracts have already been exchanged.
Chelsea’s chief operating officer, Jason Gannon, said: “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.”
The land is believed to have cost the club £80million and will come under their ownership in 2025.
The purchase has been seen as controversial as around 100 military veterans and war widows live there and were keen to stay.
Fuming vets had applied for an injunction to stop the Stoll charity trustees from making the sale.
However, it was unsuccessful, with Chelsea now completing the acquisition.
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Hammersmith and Fulham Council Deputy Leader Ben Coleman has insisted that a suitable site has been found for the veterans so no one will be made homeless
He 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.”
Chelsea want to build a new 55,000-capacity ground to keep up with their rivals commercially with the new owners hoping for a staged rebuild of the Bridge, with the stands replaced and upgraded one by one.
That transformation would also see the hotel behind the Shed End bulldozed.
Architect Janet Marie Smith, who has worked on a host of stadium renovations in America, has been hired to oversee the monumental task of rebuilding Chelsea’s famous ground.
Smith’s projects include Baltimore’s Oriole Park, Atlanta’s Olympic Stadium, the Boston Red Sox’s Fenway Park and Dodger Stadium in LA.
It is expected that the Blues will spend up to £2billion on the transformation of the 147-year-old ground.
The previous plans for the club included moving to a new site in London.
One plan was a shock move to a 60,000-seater stadium in Earl’s Court.
Another was a relocation to Battersea Power Station as former owner Roman Abramovich made a bid to buy it in 2012 as he plotted to keep the building’s four chimneys as part of a design which included a 15,000-seat single-tier south stand.
But that plan ended when a Malaysian consortium bought the site for £400m.
