Christian Candy
Christian Candy | |
|---|---|
| Born | Christian Peter Candy 31 July 1974 |
| Education | Priory Preparatory School Epsom College |
| Alma mater | King's College London |
| Occupation | Property developer |
| Spouses |
Emily Crompton (m. 2010) |
| Children | 2 |
Christian Peter Candy (born 31 July 1974)[1] is a British billionaire luxury property developer.[2] He was estimated to share a joint net worth of £1.5 billion in the Estates Gazette rich list 2010 along with his brother Nick Candy, placing them at position 52 in the list of the richest property developers in the United Kingdom.[3]
Early life and education
[edit]Born in London to a Greek-Cypriot mother and English father, Candy was privately educated[2] at Priory Preparatory School and Epsom College[4] in Surrey. He later studied for a business management degree at King's College London but did not graduate.[5]
Career
[edit]In 1995, he bought his first property along with his brother Nick Candy, a one-bedroom flat in Redcliffe Square, Earl's Court, London. Using a £6,000 loan from their grandmother, the brothers renovated the £122,000 apartment while living in it. Eighteen months later they sold it for £172,000, making a £50,000 profit.[6]
In their spare time between 1995 and 1999, the brothers began renovating flats and working their way up the property ladder.[7] Eventually they were able to give up their day jobs where Nick worked in advertising for J. Walter Thompson and Christian for investment bank Merrill Lynch and established Candy & Candy in 1999, of which Nick is CEO.[8]
They formed the CPC Group in 2004 and collaborated the prestigious One Hyde Park scheme in London, operate separate independent businesses and have done for a number of years. In June 2018, Candy & Candy was renamed Candy Property in order to reinforce Nick Candy's sole ownership of the business and to align with his wider portfolio of companies.[9] In 2004, Christian established CPC Group in Guernsey, to specialise in high-end residential developments around the world. Some of their more high-profile developments, however, have been in London.[10]
Gordon House
[edit]Christian agreed to purchase Gordon House from the Royal Hospital Chelsea in 2012. He exchanged contracts, consisting of two lease agreements for £20 million and £48 million. Christian began elaborate subterranean building works, including a 60 ft swimming pool and a cinema. Even though he had not completed on the purchase, the start of the works triggered a rule that the purchase had been "substantially performed", so he had to pay the SDLT levy. He decided not to move in, despite having paid £27.4 million of the price, and gave it to his brother Nick, who finished the works and completed on the purchase — at which point he became liable to pay the tax again.[11]
Lawsuit
[edit]In 2016 and 2017, Nick and Christian Candy were involved in high-profile litigation in the High Court in London which put their reputations on the line. Mark Holyoake claimed in the High Court action that the Candy Brothers had used threats against him and his family to extort total repayments of £37m against a £12m loan.[12] Although they were cleared of extortion, Mr Justice Nugee said in his judgment "the protagonists...have been willing to lie when they consider their commercial interests justify them doing so". Mr Justice Nugee went on to say "he had found none of Mr Holyoake's claims to be true, and that there had been no undue duress, influence, intimidation or unlawful interference with economic interests."[13][14] In June 2018, following another application by Mr. Holyoake, the Court of Appeal rejected Mark Holyoake's bid challenging the high-profile high court ruling in December 2017 (above). Lord Justice David Richards concluded that Mr Holyoake's arguments had "no real prospect of success", meaning Mr Justice Nugee's original decision in 2017 was affirmed.[15]
Personal life
[edit]Candy married Emily Crompton,[16] socialite and former nightclub hostess, in a lavish ceremony in 2010. They had twins in 2013, Isabella Monaco Evanthia and Cayman Charles Wolf. They lived between UK and Monaco.[17]
References
[edit]- ^ "CHRISTIAN PETER CANDY - LONDON". Checkcompany.co.uk. Retrieved 4 December 2017.
- ^ a b Miller, Hannah; Wheeler, Brian (10 December 2024). "Farage recruits tycoon Nick Candy as Reform UK treasurer". BBC News. Retrieved 17 December 2024.
- ^ Cahill, Julia. "Rich List 2010" (PDF). Estates Gazette. Retrieved 26 July 2012.
- ^ Adams, Guy (2 February 2008). "Candy and Candy: Sweet dreams - Profiles - People - The Independent". The Independent. London. Retrieved 7 November 2012.
Nick was born in 1973, Christian in 1974, and both went to public school in Epsom.
- ^ "Joint CEO and Founder, Candy & Candy Ltd". Financial Times. Retrieved 26 July 2012.
- ^ BARRIONUEVO, ALEXEI (29 June 2012). "The Upstarts' Empire". New York Times. Retrieved 26 July 2012.
- ^ "Candy and Candy: Sweet Dreams". The Independent. Retrieved 28 April 2015.
- ^ "Candy and Candy profile". Retrieved 8 August 2015.
- ^ Hipwell, Deirdre (24 July 2018). "Candy brothers go their own way". The Times. ISSN 0140-0460. Retrieved 27 July 2018.
- ^ "One Hyde Park". One Hyde Park. 22 April 2019.
- ^ Byers, David. "Candy brothers lose £4m stamp duty battle over Georgian mansion". The Times.
- ^ Croft, Jane (3 April 2017). "Lawsuit gives rare glimpse into billionaire Candy brothers' world". Financial Times. Retrieved 15 July 2018.
- ^ Dey, Iain. "Candy Judgment Press Commentary".
- ^ "Neutral Citation Number: [2017] EWHC 3397 (Ch) Case No: HC-2015-003369". Courts and Tribunals Judiciary.
- ^ "Richards LJ dismisses Holyoake Appeal".
- ^ "Property Developer Christian Candy makes Emily Crompton an offer she can't refuse". The Telegraph. 1 July 2009. Retrieved 23 May 2016.
- ^ Rupert Neate (20 October 2014). "Candy brothers: 'One day they were likely lads, then they were everywhere' | Business". The Guardian. Retrieved 19 July 2016.