Sunday, April 3, 2011

Luxury developers feeling the squeeze

Candy brothers' property losses stack up

Candy and Candy Holdings has moved further into losses as sales slowed at their property empire over the last year. The brothers are perhaps best known for the luxury One Hyde Park apartment development. Sales have slumped by more than 50pc – from £18.9m to £8.6m – as the result of a “lack of liquidity in the construction finance market”.

Posted by drewster @ 04:14 PM (1222 views)
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4 thoughts on “Luxury developers feeling the squeeze

  • someone give me grant boveys number

    these two genius of the property market are about to have a nasty fall imo…their business plan seems so high risk I must be missing something

    but i am sure they are very nice people

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  • mark wadsworth says:

    Drewster, you are on fire today!

    Nice to see the Candys’ chickens coming home to roost.

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  • Cheers Mark! I like to line up the best stories of the weekend, just in time for the Sunday evening internet rush.

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  • I cycle past One Hyde Park each morning and there are vacant retail units under the flats with “Coming soon” signs.

    Yes, coming soon, just like the property recovery no doubt!

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