The Candy brothers’ prime central London residential property fund launched today, seeking £100 million of capital.
Nick and Christian Candy, who are London-based and famed for designing high-end residential properties, are providing investment advice to the vehicle called the Candy & Candy Growth Fund through their development company CPC. Tax and investment specialist Smith & Williamson Investment Management is structuring the vehicle. The brothers are also providing interior design and property management services through their company, Candy & Candy.
The vehicle is being structured as a seven-year closed-ended investment fund registered in Guernsey. It will also be listed on the London Stock Exchange.
It is seeking to raise around £100 million through a mixture of equity and debt finance.
Christian Candy said: “Few commentators would question the viability of central London residential property as an asset class. We now have the opportunity to acquire stock at realistic prices, while rental demand remains high and capital values are beginning to move in the right direction.”