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 marketâ€.
Posted by drewster @ 04:14 PM (1222 views)
4 thoughts on “Luxury developers feeling the squeeze”
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taffee says:
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
mark wadsworth says:
Drewster, you are on fire today!
Nice to see the Candys’ chickens coming home to roost.
drewster says:
Cheers Mark! I like to line up the best stories of the weekend, just in time for the Sunday evening internet rush.
Paul says:
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!