Holly Valance’s ex Nick Candy has just pocketed more than half a billion in the most expensive house sale in global history.
The British developer offloaded his family home in London’s exclusive Chelsea district to billionaire Suneil Setiya for $518 million (£275 million), according to the Financial Times.
The mansion was held through Providence House LLP, with Nick listed as its sole beneficial owner, the New York Post reports.
The sale comes as the property tycoon’s personal life has faced significant turbulence.
Last year, his spokesman confirmed that he and Valance were divorcing after 13 years of marriage. The pair share two daughters, Luka and Nova.
Valance and Candy remain listed as directors of the LLP that owned the property, however, it is unclear how the proceeds of the sale will be divided. News of the sale comes as Valance was spotted kissing her new flame, a former bodyguard.
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Holly Valance’s ex Nick Candy has just pocketed more than half a billion in the most expensive house sale in global history. Picture: Ricky Vigil/Getty Images
The British developer offloaded his family home in London’s exclusive Chelsea district to billionaire Suneil Setiya. Picture: Dave Benett/Getty Images for The Standard, London
The 19th-century Georgian mansion, once known as Gordon House, sits on a two-acre plot within the grounds of the Royal Hospital Chelsea.
It features the largest private garden in central London outside of Buckingham Palace and commands sweeping views of the River Thames.
The luxury estate includes a private lake, an underground swimming pool, a panic room, and a private cinema complete with a “Candy bar” pick ‘n’ mix concession.
“It had never been marketed for sale,” one real estate agent told the Financial Times, meaning Setiya and his representatives came to the owner directly.
The sale price of north of £275 million blows past the previous global benchmark.
US hedge fund titan Ken Griffin shelled out a whopping $331 million ($US238 million) for a New York penthouse in 2019.
The mansion was held through Providence House LLP, with Nick listed as its sole beneficial owner. Picture: Google Earth
Nick’s brother, Christian, originally bought Gordon House in 2012 in a deal worth $142 million (£68 million).
He began extensive renovations with a 14,000 sq ft basement, adding a swimming pool and private Imax cinema.
Two years later, Christian gifted the property to Nick, stating he was honouring his late father’s wishes to share his wealth with his brother.
Nick went on to complete the renovations and pay the remaining $100 million (£48 million) price of the leases.
The seller, luxury developer Nick Candy, originally acquired the never-publicly-listed property through his brother. Picture: Getty Images
Both brothers ended up paying $4.02 million (£1.92 million) in stamp duty on the mansion to HMRC, UK’s tax, payments and customs authority.
He also paid $4.02 million (£1.92 million) in stamp duty on the gift, which prompted Christian to apply for repayment of the $4.02 million (£1.92 million) that he had already paid. The appeal was not successful.
Despite the historic sale, Nick is not walking away from the ultra-luxury market.
His penthouse at One Hyde Park — a five-bedroom, eight-bathroom duplex — remains on the market with an asking price of approximately $340 million (£175 million).
Parts of this story first appeared in the New York Post and was republished with permission.
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