Monday, November 16, 2009
Like Grant Bovey, except a hundred times bigger
"Nick and Christian Candy, the developers of apartments for the super-rich, are heading for a high court clash with the Qatari royal family following the withdrawal of plans for the UK's most expensive residential scheme at Chelsea Barracks. [They have] lodged a claim against Qatari Diar Real Estate Investment, the property company backed by the emirate of Qatar, a long-time business partner of the UK developers. The pair were planning to develop the former 12.8-acre Chelsea Barracks site near Sloane Square in west London into a Â£3bn luxury apartment complex designed by Lord Rogers. Project Blue, the former joint venture between CPC and Qatari Diar, acquired the site in 2007 for close to Â£1bn." NB, Â£1 billion Ã· 12.8 acres = Â£16,141 per square yard land value!