Latest Breaking News & Top Headlines

Billionaire Christian Candy buys six flats in redeveloped Chelsea Barracks

0

Property magnate Christian Candy has bought £75million worth of property in a luxury development in the heart of Chelsea, despite being embroiled in a legal battle over the project just over a decade ago.

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

The plan had been to turn the former site of the Ministry of Defense into a £3bn luxury apartment complex – but this idea was scrapped by the Candys after Prince Charles complained about the ‘terrible’ design of the proposed development.

The Qataris have reportedly withdrawn the planning application and made a more traditional design.

Property magnate Christian Candy (pictured in 2019 with wife Emily) bought £75million worth of flats 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 bought by Christian, his brother Nick and Qatar in 2007 for £959 million

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

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

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

As a result, the Candy brothers sought legal action in 2010, with their lawyer accusing the Qataris of “outrageous” behavior before settling the case out of court.

A redesigned version of the plans then went ahead without their involvement.

This time, Qatari Diar, the real estate arm of Qatar’s sovereign fund, took full ownership of the project.

However, The Times is now reporting that despite the previous legal battle, Christian Candy has purchased multiple units in the development.

Christian Candy has spent up to £75million on a number of properties in the complex – reportedly receiving a slight discount on some of them – and has reportedly bought six apartments of varying prices.

The Candy brothers (pictured together) sought legal action against the development in 2010, with their lawyer accusing the Qataris of 'outrageous' behavior for withdrawing the planning application following complaints about Prince Charles' design.

The Candy brothers (pictured together) sought legal action against the development in 2010, with their lawyer accusing the Qataris of ‘outrageous’ behavior for withdrawing the planning application following complaints about Prince Charles’ design.

A redesigned version of the plans then went ahead without their involvement.  This time, Qatari Diar - the real estate arm of Qatar's sovereign fund, fully owned the project

A redesigned version of the plans then went ahead without their involvement. This time, Qatari Diar – the real estate arm of Qatar’s sovereign fund, fully owned the project

Pictured: Another view of the inside of one of the flats in the Chelsea Barracks redevelopment

Pictured: Another view of the inside of one of the flats in the Chelsea Barracks redevelopment

It is believed that Candy uses the newly purchased apartments for his family, while renting out some of the others.

A real estate source told The Times the purchases were a “seal of approval” in the redesigned development.

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

It follows earlier this year, when the billionaire submitted plans for a 424-square-foot lounge and dining room with large Roman-style columns to the front of his home near Egham, Surrey.

He wants the room to have domed skylights at the top so the sun can stream in.

The project is completed with patio doors overlooking Mr Candy’s extensive landscaped gardens.

It is the latest in a series of major redevelopments of his £150 million estate dubbed ‘Candyland’.

The real estate mogul and his wife, socialite Lady Emily Crompton Candy, bought the four properties surrounding his lavish home to create a huge mansion where they live with their eight-year-old twins Isabella and Cayman.

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

Earlier this year, Mr. Candy submitted a planning application for a 424-square-foot lounge and dining room complete with Roman-style columns.

Earlier this year, Mr. Candy submitted a planning application for a 424-square-foot lounge and dining room complete with Roman-style columns.

The extension is a gigantic five-bedroom guest house, which is connected to the enormous main house via an underground tunnel.

The building’s design is presented as ‘neo-classic’ and Mr Candy is hoping to get approval by scrapping plans to build a new garage and outbuilding.

The plans were the latest in a long series of redevelopments of the lavish Candyland complex.

Earlier this year, the billionaire was given the go-ahead to dig a 20-meter tunnel that will provide access from his luxury pathway to an underground car museum, dance studio and wine cellar.

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

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

This is connected to the guest house, which is located on his grand estate, via another 60-metre tunnel.

Last year, Mr Candy was given the green light for his underground car museum, which houses 57 motorcycles.

The property magnate developed a fortune of more than £600 million after starting in property management with his older brother Nick.

The brothers began renovating flats in their spare time between 1995 and 1999 and are now said to be worth more than £1.5 billion.

Christian Candy was given the go-ahead earlier this year to dig a 65-foot tunnel (pictured) that will provide access from its luxury pathway to an underground car museum, dance studio and wine cellar.

Christian Candy was given the go-ahead earlier this year to dig a 65-foot tunnel (pictured) that will provide access from its luxury pathway to an underground car museum, dance studio and wine cellar.

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

After several years of success, the brothers were able to give up their day job and found their real estate company Candy & Candy in 1999.

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

The brothers also own a large collection of luxury superyachts, private jets and a motorboat called Catch Me If You Candy.

Why were the original plans for Chelsea Barracks changed?

The site of the former Chelsea Barracks, in west London, was originally bought in 2007 by Christian, his brother Nick and the Qatari royal family for £959 million.

Their plan had been to turn the former site of the Ministry of Defense into a £3 billion luxury apartment complex, with… Lord Rogers of Riverside’s studio, Rogers Stirk Harbor and Partners, designed the new complex.

However, Prince Charles reportedly objected to the plans, telling the Emir of Qatar at a meeting at Clarence House that it was “an eyesore.”

Later, Qatari Diar, the real estate arm of Qatar’s sovereign fund, withdrew its planning application for the development in West London.

This led the Candy Brothers to take legal action, claiming that the Qatari royal family dropped plans for the redevelopment after Prince Charles intervened.

They sued Qatari Diar for £81 million – the amount they should have received if planning permission had been granted for the original plans.

Justice Vos found that the Qatari partners had violated the terms of their agreement by withdrawing the plans after the intervention of the Prince of Wales, but ruled that the Candy brothers were not entitled to a payout of £68.5 million under the terms of the agreement. original contract.

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

.

Leave A Reply

Your email address will not be published.