Candy brothers develop an appetite for Sugar Quay in swoop on City
Saturday 03 March 2012
The Candy brothers, the developers behind London's One Hyde Park flats for the super-rich, have turned their attentions to the City after swooping to buy the Sugar Quay site from administrators.
The Candys' CPC Group has exchanged contracts for the site on the north bank of the Thames, in its first purchase of a development asset since spending £959m on Chelsea Barracks with backing from Qatari Diar in January 2008.
The site, which houses a 110,000 sq ft office building and has planning consent for another of up to 231,000 sq ft is vacant and is leased to Tate & Lyle.
The firm is understood to be reviewing the possibilities for the "unique" site,with options including an upgrade of the existing offices, a commercial redevelopment or residential.
But obtaining planning permission for flats from the City of London Corporation will be difficult as it does not encourage new homes except in areas of existing residential development. CPC would also have to renegotiate its 80-year lease on the site with the Fishmongers' Company, the livery company which owns the freehold.
- 1 Replica Back to the Future Hoverboard released
- 2 Katie Hopkins attacked me on Twitter — so I reported her to the police for inciting racial hatred
- 3 Tidal: Jay Z's Spotify rival streaming service criticised for making wealthy artists even richer
- 4 Brixton squat flats now costing up to £3k per month show how out of control rent is in London
- 5 A new (old) cure for MRSA? Revolting recipe from the Dark Ages may be key to defeat infection
Costa Concordia: Shipment of Mob drugs was hidden aboard cruise liner when it hit rocks off Italian coast, investigators say
Brixton squat flats now costing up to £3k per month show how out of control rent is in London
A new (old) cure for MRSA? Revolting recipe from the Dark Ages may be key to defeat infection
Jeremy Clarkson 'could be given minder' ahead of a potential Top Gear return
Justin Bieber roast: Ludacris claims Paul Walker jokes were 'over the line'
Ukip supporters are 55 or older, white and socially conservative, finds British Social Attitudes Report
Street preacher quoting from the Bible fined for calling homosexuality an 'abomination'
Jeremy Clarkson sacked live: Alan Yentob 'wouldn't rule out' ex Top Gear host's BBC return
Woman filmed launching racist tirade against men on the Tube for speaking in 'own lingo'
The West has it totally wrong on Lee Kuan Yew
David Cameron calls Labour 'hopeless, sneering socialists' while announcing 7-day NHS plans
iJobs Money & Business
£45000 - £50000 per annum + benefits : Ashdown Group: A highly successful, glo...
£50,000 - £55,000: Neil Pavier: Are you a professionally qualified commercial ...
£45,000 - £55,000: Loren Hughes: Are you looking for a new opportunity that wi...
Circa £45,000-£50,000 + benefits: Sheridan Maine: Are you a newly qualified ac...