Candy brothers launch resi fund

The London-based residential property developers and designer, Nick and Christian Candy, are set to launch a central London vehicle.

Nick and Christian Candy, the high-end residential property designers, are eyeing a fund to take advantage of opportunities in the market.

The brothers are working with Smith & Williamson Investment Management to shortly launch the vehicle, according to a statement today.

The Candy brothers will act as the investment manager and provide interior design and property management services through their firm, CPC Group.

No further details were given except that the fund would target central London properties.

Smith & Williamson Investment Management is a London-based firm which has a division called Tax Efficient Solutions through which funds are structured.

In September the firm announced the start of another UK residential property fund called Dualinvest. That vehicle is looking to raise a maximum of £25 million (€27 million; $41 million) to invest in residential property currently held by developers and housebuilders and has sourced more than £10m of assets, over which it has taken options.

The firm said Dualinvest was designed to take advantage of current market conditions without incurring some of the problems associated with direct buy-to-let investments. The investments would be tax exempt for various investors including UK charities.