Controversial property tycoons the Candy brothers, whose name became synonymous with the development of ultra-luxury apartments in London which only foreign billionaires could afford, have ceased working together.
Candy and Candy, the development company founded by the brothers, has been renamed Candy Property. It is wholly run by the elder sibling Nick Candy, 45, who is no longer working with his brother Christian Candy, 43.
A spokesman for the company said that Nick and Christian Candy “are not working together on any current projects”, after reports emerged in the Mail Online yesterday which described a “shock parting” between the pair.
The brothers are famous for extravagant partying lifestyles matching the extravagance of the real estate they have promoted.
Their best-known development, the One Hyde Park block in Knightsbridge, with an exterior designed by Richard Rogers, featured what the brothers referred to as “uber-prime” apartments where a typical asking price was £50m.
Last year their reputations were badly damaged by a high-profile court case brought against them by a former associate, Mark Holyoake. Although the brothers won the case, Mr Justice Nugee said in giving judgment that each of the parties “has been shown to have been willing to lie when they consider their commercial interests justify them doing so”.
One major observer of the London property market, who wished to remain anonymous, told City A.M: “I was talking to someone the other day about it and it does seem weird how incredibly quiet they have gone.”
However, in a statement a spokesperson for Candy property said: “Since April 2011, the Candy & Candy business has been 100 per cent owned and operated exclusively by Nick Candy…It is still the same company and legal entity – only the name has changed. The company remains active in the sector and will pursue broader opportunities in the luxury property market both in London and internationally.”