You are here: Home - News -

Credit Suisse backs Candy brother’s £80m mortgage on London apartment

by:
  • 10/10/2018
  • 0
Credit Suisse backs Candy brother’s £80m mortgage on London apartment
One of the UK’s biggest recorded mortgages has been taken out on a penthouse apartment in Knightsbridge.

 

The £80m loan was taken out by property developer Nick Candy from bank Credit Suisse on the One Hyde Park establishment, The Times has reported.

The top floor home is valued at an estimated £160m according to Land Registry figures, potentially making it the most valuable apartment in the country.

Land Registry records show the penthouse is owned by PHB London Holdings Limited and PHB London Dormant Limited, both based in Guernsey.

One Hyde Park was a joint venture between Nick Candy and his brother Christian, and a property company owned by the Qatar prime minister.

The development was formally opened in January 2011 and has consistently seen some of Britain’s most expensive residential homes – however it has also seen one of its apartments worth £5.25m repossessed.

Christian Candy’s CPC Group previously owned specialist lender Fortwell Capital, but a management buy-out was completed in April.

At the time of the buy-out Fortwell had lent around £1.2bn since its formation in 2011.

 

There are 0 Comment(s)

You may also be interested in

Business Skills

In this section, we offer short ‘how to’ guides on harder to crack areas of business. From social media, to regulation or niche product areas, we cover it all.

Profiles

Our journalists interview key industry entrepreneurs, strategists and commentators for day-to-day market insight and a strategic view of where the industry is heading. We offer lessons for success and explore the opportunities for your business

Success in Practice

Here, we share case studies fleshing out best practice to help you decide what could work for your business. Take a look at how others approached complex tasks like launching a new mortgage lender, advising on a new product area or deciding to specialise in another. Learn from others mistakes and triumphs.

Marketwatch

Each week, we ask top mortgage and property commentators with a unique perspective to examine a key news headline, market move or regulatory or political issue.

Poll

Vote in our weekly poll here. It’s your chance to tell us what you think and be heard on the top news stories of the week. Review our archive to find out what your industry really thinks and all our coverage of the results.

Top Comments

Be part of the conversation on Mortgage Solutions. We want to hear from you. We have a tool called Disqus to tell us which stories get the most comments each week. Every Friday, the team picks the most thoughtful or opinionated contributions from our readers to enjoy again. Don’t forget to share your favourite stories from the site on social media to keep the conversation going.
Read previous post:
computer saying beware fraud
Code of practice launched to support victims of financial abuse

The financial services industry is to introduce a voluntary code of practice over the next 12 months, aimed at providing...

Close