Candy & Candy say they are on the acquisition trail following yesterday's £959m deal for Chelsea Barracks
The Candy brothers are considering buying one of Britain’s biggest property companies after purchasing Chelsea Barracks for £959m.
A report by the Daily Telegraph said Christian Candy, who runs development company CPC, was looking at floated and private UK firms.
Christian Candy said: “If you have equity this year, you can do a lot of things.” He added: '”We are looking at floated and private UK firms. The big companies are all under our radar.”
However, he also said the weak dollar means the best value may lie outside the UK.
The Candy brothers took possession of the 12.8-acre site at Chelsea Barracks in an official ceremony yesterday. They bought the site from the Ministry of Defence in April in the UK’s most expensive development project.
The consortium of buyers, named Project Blue (Guernsey Ltd), is led by the Qatari Diar Real Estate Investment Company, a branch of the Qatari Government's Qatari Investment Authority.
The developers plan to build 650 units designed by Lord Rogers. Half will be luxury apartments worth up to £20m and the rest will be affordable housing.
Demolition work is expected to begin shortly and the homes will be completed within five years.
The MOD will use the money raised from the sale to invest in military accommodation.
The brothers own 20 acres of real estate in London. Schemes include the transformation of the former Middlesex Hospital in London into a £1.5bn mixed-use complex designed by Make