Developer Christian Candy Sells London Mansion for $129 Million
(Bloomberg) -- Christian Candy has sold a mansion overlooking Regent’s Park in London for about 104 million pounds ($129 million), a significant boon for London’s top-end housing market amid the coronavirus shutdown.
The property entrepreneur sold the home on Cambridge Terrace next to Regent’s Park to an unnamed buyer, two people with knowledge of the matter, who asked not to be identified because the details are private. The property, created by redeveloping seven buildings into one large home, was originally designed by the Regency and Georgian era architect John Nash, who’s best known for his work on Buckingham Palace.
Calls to Candy’s CPC Group were not answered and several emails seeking comment were not responded to prior to publication. Knight Frank, a selling agent on the property, declined to comment, while Savills, also a selling agent, said the property was no longer available for sale.
The sale is the first “mega deal” to take place in London since the nationwide shutdown. Knight Frank said this month that house prices in the U.K. capital’s wealthiest districts fell the most since the global financial crisis in April as sellers agreed to wider discounts to secure deals.
There are signs of recovery after the government eased some restrictions that allowed the housing market to effectively re-open on May 13. The average discount to asking prices for sales in London at the start of June was 5.5%, down from 6.4% while the stricter measures were still in place, Knight Frank data shows.
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