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Abu Dhabi, UAEThursday 18 October 2018

London penthouse on rental market for Dh700,000 a week

Billionaire Nick Candy is letting out his £160 million apartment in Knightsbridge

British property tycoon Nick Candy is renting out his two-storey London penthouse for £150,000 (Dh726,000) a week.

Valued at £160 million, the property, situated in Knightsbridge just south of Hyde Park, is thought to be the most expensive apartment in the UK.

Mr Candy lived in the property with his wife, former Neighbour’s star Holly Valance, for five years until December when the family moved to a £75m mansion in nearby Chelsea.

On Wednesday it was revealed that the property developer had taken out an £80m mortgage with Credit Suisse on the Hyde Park penthouse, which is one of 86 apartments in the block built by his brother Christian Candy in 2011.

The mortgage was a refinancing move and involved him selling the property to a company that he owns, PHB London Holdings, in order to make it easier to let the apartment, The Times reported.

“I can confirm that this is indeed a refinancing rather than a sale, but I am not able to comment any further,” a spokesperson for Candy Capital said.

The £150,000 a week rent is another record-breaking figure in British property. If such a rent is secured it would be the highest price ever paid by a tenant.

In a statement released on Wednesday, Mr Candy said there had been “significant interest in letting the property with several private offers received to date”.

“Therefore, a decision has been made to focus on rental in the short or medium term. I believe that £150,000 per week is the correct level for rental,” he added.

The apartment is said to feature heated marble floors, a pedicure room and two wine cellars. While the bloc- One Hyde Park- has a 21-metre swimming pool, a cinema, saunas and room service through a tunnel from the Mandarin Oriental hotel next door.

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Read more:

In defence of Edgware Road: London’s ‘Arab street’

London's Candy brothers know how to sweeten the rich

One Hyde Park hits billion in sales

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