Currently: 1,215,190 Listings of Properties for Sale

Credit Crunch Not For The London Rich

Credit Crunch Not For The London Rich

Credit Crunch Not For The London Rich

By: Nick Marr -  Category: United Kingdom - Added: 2008-03-29
29th March 2008-The super rich and super prime real estate in London seems to be immune to the effects of the credit crunch. This was clearly demonstrated by two property developers’ brothers Christian and Nicholas Candy who both just made 250 million pounds on property bought just 18 months ago.
 
Candy and Candy sold two hotels located in fashionable Kensington London, both hotels overlook Kensington Gardens and were sold for a cool 320 million pounds. The Kensington Palace and Kensington Park Hotels site were sold to a Middle East consortium. The brothers had barely started work on the project and had planned to transform the hotel into super prime real estate. The hotels would have housed 97 apartments with price tags of 10 million pounds each.
 
The trend by developers to employ celebrity designer architects appears to have added value to the project. Stirling prize winning architect David Chiperfield was appointed to design the building.
See David Chipperfield residential work here David Chipperfield
 
Christian Candy” We are actively bidding on projects in London, the US and the Gulf. We firmly believe in the London residential market and are confident it will remain the capital city of the world”     
 
Recently The Sunday Times reported that that despite a GBP100 million price tag the super rich have been snapping up luxury designer property at London’s One Hyde Park. The luxury apartments which were designed by architect Richard Rogers are due for completion in 2010. Knight Frank one of the estate agents promoting the development said sales had totalled more than GBP 500million with the average price of an apartment at GBP 20 million. The apartments represent real estate priced at GBP 6000 per square foot which is up from the peak prices in 2006 which were GBP 4000 per squire foot.
UK cracks down on corrupt property investment
By:  -  Category: United Kingdom - Added: 2015-07-28
Brits £50k better off in France
By:  -  Category: France - Added: 2015-07-27
Irish property has fastest rising prices in Europe
By:  -  Category: Ireland - Added: 2015-07-21
Spanish property enquiries reach record high
By:  -  Category: Spain - Added: 2015-07-20
US buyers step up demand for property
By:  -  Category: Italy - Added: 2015-07-15
Lettings demand doubled, say Greek agents
By:  -  Category: Greece - Added: 2015-07-08
Bank of England cautions on buy-to-let boom
By:  -  Category: United Kingdom - Added: 2015-07-06
US home sales soar - but so do prices
By:  -  Category: United States - Added: 2015-07-03
New Zealand changes tax laws for property investors
By:  -  Category: New Zealand - Added: 2015-07-01
Bank of Spain: Housing market has bottomed
By:  -  Category: Spain - Added: 2015-06-23
Foreign buyers return to Frances prime market
By:  -  Category: France - Added: 2015-06-17
Turkey leads European house price growth
By:  -  Category: Turkey - Added: 2015-06-15
Brits fuel Barbados property boom
By:  -  Category: Barbados - Added: 2015-06-11
Foreign investment floods Australias hotel sector
By:  -  Category: Australia - Added: 2015-06-09
US property sales at highest level in 9 years
By:  -  Category: United States - Added: 2015-06-08
British demand for French property rebounds
By:  -  Category: France - Added: 2015-06-02
UK extends Right to Buy in Housing Bill
By:  -  Category: United Kingdom - Added: 2015-05-26