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Credit Suisse in record mortgage for billionaire UK property developer
11/10/2018 , John Evans, International Editor

One of the UK’s biggest recorded mortgages has been taken out on a penthouse apartment in Knightsbridge.

The £80 million refinancing was on behalf of property developer Nick Candy from Credit Suisse on the high-end One Hyde Park development.
 
The top floor apartment is valued at an estimated £160 million, according to newly-disclosed Land Registry figures, making it among the most valuable homes in the country.
 
The penthouse is owned by PHB London Holdings Limited and PHB London Dormant Limited, both based in Guernsey.
 
One Hyde Park is a joint venture between Nick Candy and his brother Christian, and a property company controlled by former Qatar Prime Minister Sheikh Hamad Bin Jasim Bin Jaber Al Thani.
 
The previous One Hyde Park record selling price was £140 million for another penthouse in 2014, and the £137 million sale of a triple-story penthouse sold to Ukrainian billionaire Rinat Akhmetov in 2011.
 
The Candy brothers, partly of Greek Cypriot descent, have been estimated to share a joint net worth of £1.5 billion.
 
Credit Suisse declined to comment.  It is thought the Swiss bank extended a mortgage of this size because of other business flows from the Candy property empire.
 

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