News

Billionaire Christian Candy buys six apartments in the redeveloped Chelsea Barracks


Real estate mogul Christian Candy has bought up to £75m of property in a luxury development in the heart of Chelsea, despite being embroiled in a legal battle over the project just over ten years ago.

The site of the former Chelsea Barracks, in West London, was originally purchased by Christian and his brother Nick and Qatar in 2007 for £959m.

The plan was to turn the former Ministry of Defense site into a £3 billion luxury apartment complex – but that idea was scrapped by Candy after Prince Charles complained about the “outrageous” design of the proposed development.

The Qataris reportedly withdrew the layout request and produced a more traditional design.

Real estate mogul Christian Candy (pictured in 2019 with his wife Emily) bought £75m of apartments in the luxury Chelsea Barracks development, despite being embroiled in a legal battle over the project just over a decade ago.

The site (pictured) of the former Chelsea Barracks, in West London, was originally purchased by Christian and his brother Nick and Qatar in 2007 for £959 million.

The site (pictured) of the former Chelsea Barracks, in West London, was originally purchased by Christian and his brother Nick and Qatar in 2007 for £959 million.

Pictured: This is the interior of one of the many apartments available in the Chelsea Barracks redevelopment, which Christian Candy recently purchased a property in

Pictured: This is the interior of one of the many apartments available in the Chelsea Barracks redevelopment, which Christian Candy recently purchased a property in

As a result, the Kandy brothers sought legal action in 2010, accusing their Qatari lawyers of “indecent” behaviour, before settling the matter out of court.

Then a redesigned version of the plans went ahead without her sharing.

This time, Qatari Diar, the real estate arm of the Qatari sovereign fund, owns the entire project.

However, the Times has now reported that despite the earlier legal battle, Christian Candy bought multiple units in development.

Spending up to £75m on a number of properties within the complex – allegedly receiving a slight discount on some – Christian Candy has reportedly bought six apartments at varying prices.

The Kandy brothers (pictured together) sought legal action in 2010 over the development, accusing their Qatari lawyers of 'indecent' behavior for withdrawing their planning application following complaints about the design by Prince Charles.

The Kandy brothers (pictured together) sought legal action in 2010 over the development, accusing their Qatari lawyers of ‘indecent’ behavior for withdrawing their planning application following complaints about the design by Prince Charles.

Then a redesigned version of the plans went ahead without her sharing.  This time, Qatari Diar - the real estate arm of the sovereign fund of the State of Qatar - owns the entire project

Then a redesigned version of the plans went ahead without her sharing. This time, Qatari Diar – the real estate arm of the sovereign fund of the State of Qatar – owns the entire project

Pictured: Another interior view of an apartment in the Chelsea Barracks redevelopment

Pictured: Another view of the interior of an apartment in the Chelsea Barracks redevelopment

Kandy is believed to be using the newly purchased apartments for his family, while leaving some of the others behind.

A real estate source told The Times that the purchases represented a “seal of approval” on the redesigned project.

MailOnline has reached out to Qatari Diar and Christian Candy representatives for comment.

It comes then earlier this year when the billionaire presented plans for a 424-square-meter lounge and dining room, with large Roman-style columns at the front in his home near Egham, Surrey.

He wanted the room to have vaulted ceiling lights on top to let the sunlight pour in.

The project is completed with French windows overlooking the extensive landscaped gardens of Mr. Candy.

It is the latest in a series of major redevelopments of his £150m estate, which he has dubbed ‘Candyland’.

The real estate mogul and his wife, community lady Emily Crompton Candy, have bought the four properties surrounding his stately home, to create a massive mansion where they live with their eight-year-old twins Isabella and Cayman.

He presented the new plans to Runnymede Borough Council in May, and he hopes there will be no complaints from angry neighbors like previous developments.

Earlier this year, Mr. Candy submitted a layout order for a 424 square meter hall and dining room complete with Roman columns.

Earlier this year, Mr. Candy submitted a layout order for a 424 square meter hall and dining room complete with Roman columns.

The extension relates to the huge five-bedroom guest cottage which is connected to the huge main house by an underground tunnel.

The building is proposed to be “neo-classical” and Kandy hopes to gain permission by scrapping plans for a new garage and outbuilding.

The plans were the latest in a long line of redevelopments for the luxury Candyland complex.

The billionaire got the go-ahead earlier this year to dig a 20-meter tunnel that would allow access from his luxury painting to an underground car museum, dance studio and wine cellar.

It is the latest in a series of major redevelopments of his £150m estate in Egham, which has been dubbed

It is the latest in a series of major redevelopments of his £150m estate in Egham, which he has dubbed ‘Candyland’.

This connects to the guest house located in his large country house through another tunnel 60 meters long.

Last year, Mr. Candy got the go-ahead for an underground automobile museum that can store 57 engines.

The real estate mogul developed a fortune of over £600m after he started managing properties with his older brother Nick.

The brothers began renovating the apartments in their spare time between 1995 and 1999 and they are now believed to be worth more than £1.5 billion.

Christian Candy got the go-ahead earlier this year to dig a 65-foot tunnel (pictured) to allow access from his luxury platform to an underground car museum, dance studio and wine cellar.

Christian Candy got the go-ahead earlier this year to dig a 65-foot tunnel (pictured) to allow access from his luxury platform to an underground car museum, dance studio and wine cellar.

They started with a one-bedroom apartment in Earls Court, London, which they bought with the help of a loan from their grandmother before selling it for a profit of £50,000.

After several years of success, the brothers were then able to quit their day jobs and set up their own trading company, Candy & Candy, in 1999.

They are most famous for creating the luxurious One Hyde Park apartment complex in Knightsbridge, Central London.

The brothers also own a large selection of luxury yachts, private jets and a speedboat called Catch Me If You Candy.

Why have the original plans for Chelsea Barracks changed?

The site of the former Chelsea Barracks, in West London, was originally purchased by Christian, his brother Nick and the Qatari royals in 2007 for £959m.

Their plan was to turn the former Ministry of Defense site into a £3 billion luxury apartment complex Lord Rogers’ Studio of Riverside, Rogers Stirk Harbor & Company, having designed the new complex.

However, Prince Charles reportedly objected to the plans, telling the Emir of Qatar during a meeting at Clarence House that they were an “eye filth”.

Subsequently, Qatari Diar, the real estate arm of the State of Qatar’s sovereign fund, withdrew the request to plan for the development in West London.

This led to the Candy Brothers taking legal action, alleging that the Qatari royal family abandoned plans for the redevelopment after Prince Charles intervened.

They have sued Qatari Diar for £81m – the amount they would have received if planning permission had been granted for the initial plans.

Mr Justice Voss found that the Qatari partners had breached the terms of their agreement by withdrawing the plans after the Prince of Wales’ intervention, but ruled that the Kandy brothers were not entitled to pay £68.5m under the terms of the original contract.

In the end, the Candy brothers settled the dispute out of court for an undisclosed amount.



Source link

Related Articles

Leave a Reply

Your email address will not be published.

Back to top button