Former consortium partners reach agreement after tension over the development of Chelsea Barracks.
Christian Candy’s CPC property group has settled its legal row with Qatari Diar over the redevelopment of the former Chelsea Barracks site in west London.
CPC, which was developing the £1bn 12.8 acre site with Qatari Diar, the property arm of Qatar’s sovereign wealth fund, will end any involvement on the project and Christian Candy has apologised to the Qataris for dragging the Prince of Wales into the legal row.
The full terms of the settlement have been kept confidential.
The dispute arose in June 2009 after Qatari Diar withdrew proposals for the redevelopment of the former army barracks site. Allegedly, Qatari Diar shelved plans after the Prince of Wales made a direct appeal to the emir of Qatar requesting that designs by architect Lord Rogers be changed.
Qatari Diar insisted that no instruction to withdraw plans was issued by the Arab state’s emir and blamed local planning considerations for their decision. Last month CPC won its legal appeal against the Qataris decision to withdraw the plans although no payout was awarded.
Today, in a joint statement the parties said:
“CPC Group and Qatari Diar are pleased to announce that they have agreed a settlement of the dispute between them arising from the proposed development of the former Chelsea Barracks site. As a result, the litigation between them has been discontinued. CPC and Candy & Candy will no longer have any interest in, or involvement with, the former Chelsea Barracks site, which is owned entirely by Qatari Diar. The other terms of the settlement are to remain confidential between the parties.
Christian Candy has also apologised to His Highness Sheikh Hamad bin Khalifa Al Thani, the Emir of the State of Qatar, His Excellency Sheikh Hamad bin Jassim bin Jabr Al Thani, the Prime Minister of the State of Qatar and Mr Ghanim bin Saad Al Saad, managing Director of Qatari Diar for any offence caused by the decision to commence litigation against Qatari Diar and the allegations made by CPC during the course of the proceedings.
Mr Candy also expressed his regret at having brought the name of HRH the Prince of Wales into a contractual dispute and he apologised unreservedly to His Royal Highness for any offence this may have caused.
The parties confirmed that they were happy to have been able to turn over the page and that they looked forward to the future in a positive frame of mind. Christian Candy confirmed that he continued to have the utmost respect for Qatari Diar, as a worldwide real estate developer.”