Abu Dhabi, UAEFriday 23 August 2019

Property tycoon faces potential £1.5 billion high court battle over penthouse

£160 million London apartment, thought to be the most expensive property in the UK, in the middle of a high court battle

The penthouse is situated in Knightsbridge overlooking Hyde Park. REX/Shutterstock
The penthouse is situated in Knightsbridge overlooking Hyde Park. REX/Shutterstock

Property tycoon Nick Candy is facing a high court battle over his £160 million London apartment, thought to be the most expensive property in the UK.

Mr Candy is being taken to court by a man named Michael Brown over claims the billionaire wanted him to sell the property to a member of a Gulf family.

Mr Brown is claiming “financial loss” of £1.5 billion.

“Mr Candy was very concerned with getting this affair sorted after calling me for weeks on end, pleading for help to put arrangements in place which would result in the sale to my clients,” Mr Brown said in his claim.

He has also accused the entrepreneur of “malicious sabotage”, a ruling that does not exist in British law, and criticised a member of another family for their “imbecilic behaviours”.

“Mr Brown’s claim is completely baseless and without any grounding in reality whatsoever. This is simply an attempted shakedown by Mr Brown in order to elicit a nuisance payment from the Defendants” a spokesperson for Candy Capital told The National.

Mr Candy previously lived in the property situated in Knightsbridge, just south of Hyde Park, London, with popstar wife Holly Valance. He then moved to a nearby £75m mansion in Chelsea.

In October 2018, 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.

The apartment is believed to have skyline views of London, with bulletproof glass, heated marble floors, a pedicure room and two wine cellars.

The bloc has a 21-metre swimming pool, a cinema, saunas and room service through a tunnel from the Mandarin Oriental hotel next door.

Updated: April 12, 2019 06:44 PM

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