nick candy new yacht

Nick Candy is selling his £54m superyacht while he builds a better one

If you’re in the market for a new superyacht , Nick Candy’s whopping number might be just what you’re looking for.

The billionaire property tycoon has announced that his lavish superyacht, named 11.11, is now on the market for 59,500,000 Euros (£53,758,547.50) but you better be quick.

The 63-metre long vessel was built in 2015 by the prestigious Italian yacht builder Benetti and scooped a World Superyacht Award in 2016. Candy expects it to be snapped up quickly after demand for high-spec yachts surged during the pandemic, with the super-rich looking for ways to travel in the most Covid-safe way.

Candy said in a statement,'I've been approached over the last few years to sell it – often by charter guests who after spending one or two weeks on board want to buy it – but I've always said no.

'I'm currently nine months down the line with designs for a new and bigger yacht, so now feels like a good time to sell, especially as there is increasing demand for superyachts which are viewed as a safer alternative to shore-based travel due to their natural isolation and self-sufficiency.'

The new owner will find stunning Art Deco-style interiors inside, designed to be brief by Candy and his wife, former actress and singer, Holly Valance. There’s plenty of space for large groups of friends and family. The VIP suite has its own separate lounge and marble bathroom, while the master suite comes with its own private deck, 180-degree views and jet pool. There’s also a nursery and four further guest cabins.

Days can be spent soaking up the rays from the split-level sundeck, with its large Jacuzzi pool and bar. There’s also an on-board spa with a treatment room and steam room, helipad for ferrying guests, a trampoline and a climbing wall, plus heaps of water toys to keep you busy.

Candy said: 'We have made some amazing memories on board over the past five years. The service level on board 11.11 is like no five-star hotel on the planet.

'The crew have taken service, food, hospitality, and maintenance of a superyacht to a whole new level but it's time to move on and build something new that works for our family and lifestyle in the future.

'I have always had a passion for yachts and get huge enjoyment from the project side of building and designing a boat – it is not dissimilar to building a house or an apartment building.'

11.11 is available to buy through Y.CO

Real-estate tycoon Nick Candy is selling his $71 million superyacht to upgrade to a bigger one — see inside

• Real-estate mogul Nick Candy's superyacht, 11.11, has hit the market for $71 million. 
• The 207-foot yacht sports room for 14 guests, several bars, multiple dining areas, a spa, and a pool.
• Candy is looking to upgrade to a larger boat, he told Bloomberg. 
• The selling dealer, Y.CO, also has the yacht listed for charter for roughly $770,000 per week. 
• Visit Business Insider's homepage for more stories .

Nick Candy, a British real-estate mogul, is parting ways with his 207-foot superyacht, but it's not because he needs the money or because he's moved on to other hobbies. It's because the ship is simply too small. 

Candy, who's selling his yacht 11.11 for $71 million through yacht company Y.CO, is looking to upgrade to something a bit more spacious, he told Bloomberg recently.

"I want to build a bigger yacht," Candy said. "Later in life, people contract their lives; at this age, I'm still expanding."

Apparently, six bedrooms, multiple decks, pool areas, a nursery, a full-blown spa, and several bars isn't quite enough for the businessman. But Candy's extremely high standards aren't terribly surprising, given that he made his fortune selling some of the priciest and most extravagant real estate imaginable. 

Take a closer look at 11.11 and all of its amenities below.

Nick Candy — a British real-estate mogul who made a fortune on ultra-luxury homes — is selling his gargantuan superyacht for $71 million.

Although the 207-foot yacht is extravagant by most people's standards, Candy is looking to upgrade to something a bit larger, he told Bloomberg.

"I want to build a bigger yacht," Candy told the outlet. "It's like anything in life. Sometimes you want to have a change."

Source: Bloomberg

That may be true, but the superyacht still has plenty going for it. That is, if you're into this sort of thing.

For example, Candy made sure to outfit his yacht with both an indoor bar and an outdoor bar on every level, as well as room for 1,000 bottles of wine.

Its art-deco interior, which was designed by Candy's firm, features gobs of polished stainless steel, mirrors, and Italian marble.

Plus, 11.11 accommodates up to 14 guests in six cabins.

The master suite offers a walk-in dressing room, 180-degree views ...

... and a palatial bathroom.

It opens up onto a private deck with a lounge area ...

... and a jet pool.

The yacht also has numerous other decks ...

... and indoor lounge areas.

The sun deck sports a mosaic-decorated jacuzzi and an Italian-stone bar.

Plus, there's an outdoor dining space for 14 ...

... and an indoor one.

The superyacht also offers up a steam room, massage room, gym, and a helipad for good measure.

It also comes with its own matching tender built by Benetti, the company behind 11.11.

Those who can't quite swing the $71 million asking price may still have a shot at taking 11.11 out for a spin.

The selling dealer, Y.CO, is also renting out the yacht for $770,000 per week.

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The 11 Most Exciting New Yachts at the Palm Beach International Boat Show

From a $71 million, 206-foot superyacht to a 30-foot offshore dual console, this year's pbibs has something for everyone..

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The 40th annual Palm Beach International Boat Show starts Thursday and runs through Sunday. With demand for new boats of all sizes still setting records, this year’s show, celebrating its 40th anniversary, has $1.8 billion worth of boats of all sizes, from 8-foot tenders to superyachts. Palm Beach will also have multiple US and global debuts. Here are eleven newcomers.

Benetti ‘11.11’

Owned by British real estate mogul Nick Candy, the 206-foot Benetti named 11.11 will be the Palm Beach show’s biggest and most expensive offering. How expensive? Brokers Y.C.O. have it listed for a non-trivial $71 million.

The story goes that the young property developer acquired the superyacht back in 2014 after the original owner walked away just 10 months before completion. Not happy with the original layout—the tender garage had been set-up to accommodate a Rolls-Royce Phantom—Candy masterminded a last-minute redesign and interior makeover. Today, the Art Deco interior is still lined with art from Candy’s personal collection, and includes pricey pieces from Tracy Emin, Hans Kotter and photographer David Yarrow. No word as to whether the art is included in the sale.

Sunseeker Predator 65

One of the UK’s leading motoryacht builders is making Palm Beach the global launch point for its muscular Predator 65. It shares the same hull as Sunseeker’s Sport Yacht 65, but instead of a flybridge has a huge carbon-fiber top and glass sunroof. Powered by 1,000-hp Volvo IPS-1350 pod drives with joystick control, this new Predator reaches a top speed of 40 mph. A recent video of the yacht on sea trials shows impressive 0- to 40-mph acceleration in 30 seconds. The three-stateroom layout, all with en suites, means there’s room for up to six. This Predator also has an extra-wide tender garage and cool-looking wave-shaped hull windows.

Rossinavi ‘EIV’

Less than two years after the rakish, 160-foot all-aluminum tri-deck superyacht EIV hit the water, she’s hitting the market with a $40.94 million asking price. Built for a US client by the Italian superyacht yard Rossinavi, those sleek, stunning lines are from the drawing board of Enrico Gobbi’s Venice-based Team for Design studio. The stainless-steel-grilled axe bow is a piece of art. Inside, EIV sleeps up to eight in sumptuous luxury with the entire yacht decked-out in high-end fabrics from luxe brands like Hermès, Rubelli and Armani Casa.

A pair of 2,600-hp MTU 16Vs can punch the shallow-drafted yacht to a top speed of 19 knots, and take her over 3,600 nautical miles between fill-ups. If you’re wondering what EIV stands for, it’s short for E-Four, as in an automobile’s electronic four-wheel drive system.

Westport ‘Tintin’

The latest in Westport Yachts’ successful W 112-series should have been off cruising the Caribbean right now, following its launch late last year. But a change of plans prompted the owners to put a “For Sale” sign on the bow and secure a slip at PBIBS. The appeal for a new owner? Getting a virtually brand-new yacht, with the bugs sorted—the 112-footer cruised on its own bottom from the Pacific Northwest, through the Panama Canal to Palm Beach—and without the typical two-year wait. But be prepared to love bright colors. Tin Tin ‘s interior is a mass of vibrant hues, bold, textured finishes and wild pop art. The hand-painted blue sky and puffy-cloud mural on the master cabin ceiling is a delight. 

Fraser Yachts has her listed for $17.5 million.

Princess V50 Yacht

Another key British-built cruiser making its US debut at PBIBS is Princess Yachts’ 52-foot  V50 coupe. Evolved from the previous-gen V50, the deep-V hull and deck have been re-shaped by the builder’s design team, with a little help from design collaborators Pininfarina and Olesinski Naval Architecture. Now there’s an extra set of steps from the swim platform into the reconfigured aft cockpit, and an elongated canopy for extra shade over the back deck. As with the previous generation, there’s an enclosed salon version with sliding glass doors, along with an Open model with a canvas enclosure. Changes to the helm include new sportscar-like bucket seats with Bentley-style diamond-quilted leather, and a futuristic “floating” dashboard. Above is the absolutely huge, three glass-panel sliding sunroof that floods the salon with light. Power is a pair of 480-hp Volvo IPS 650s that deliver a 37-mph top speed.

Sirena 68 Yacht

The Turkish builder is giving its Sirena 68 Flybridge a US debut at PBIBS. Since the 68-footer’s unveiling last fall in Europe, more than 26 hulls have been sold and the yard is booked to the end of 2023. Not surprising considering the styling of this yacht, with a 70-foot LOA, comes from the drawing board of Dutch designer Cor D Rover. It also has a new hull design from naval architect German Frers. The boat will have a top speed of 32 mph with twin 1,000-hp Volvos. The 68, with its extended flybridge and generous outdoor spaces, has a choice between a standard three-cabin layout, or optional four-cabin format with separate crew quarters.

J Craft Torpedo

Swedish classic boat builder J Craft is sticking a toe in the boat-hungry American waters by showcasing, for the first time, its stunning 42-foot Torpedo at PBIBS. Inspired by such ’60s wooden-boat legends as Riva’s Aquarama, the Torpedo mixes olde-world craftsmanship with modern tech. Each of these mirror-varnished jewels of the sea takes an entire year to build. Powered by Swedish Volvo Penta IPS drives giving 60-mph performance, the Torpedo has space for 10 to tan in comfort, with a leather-lined cabin below that’s spacious enough for four for an overnight at anchor. J Craft says it is taking a “strategic approach” with its Palm Beach show participation with a view to offering a custom-spec US version of the roughly $1.5 million Torpedo by early next year.

Rossetti ‘Emocean’

You won’t find any glove-soft leather or cushy fur throws on Rosetti Superyacht’s first explorer yacht, the 125-foot Emocean. Those fabrics on the sofas, and rugs on the floors? All made of recycled plastic pulled from the ocean. Dubbed as the first vegan superyacht, the interior design is the work of Italian studio BurdissoCapponi, who created the furnishings for the yacht’s vegan owners, who insisted on no animal products. The eco-friendliness also applies to Emocean’s efficiency. While there are no hybrid features or banks of solar panels, the twin fuel-sipping 800-hp MAN diesels give the yacht a 5,000-mile cruising range at 11 knots, consuming just 16 gallons an hour.

Grand Banks GB85

Here’s a bold claim from Singapore builder Grand Banks Yachts: Its brand-new 85-foot flagship GB85, making its global debut at PBIBS, will use 50-percent less fuel than any other motoryacht of the same length—by requiring half the horsepower to achieve the same performance. Grand Banks says the motoryacht’s reduced weight comes from the carbon-fiber hull and superstructure. Its V-Warp semi-displacement hull design is also designed with a smaller footprint, letting the GB85 slice through waves at a 24-mph cruise speed with minimal wake. Engine choices include twin 1,000-hp Volvo IPS pods, or a pair of 1,300-hp MAN V8s with straight shafts. The builder is offering either a closed Skylounge or open flybridge version, with accommodations for up to 10.

Sailfish 316 Dual Console

Doesn’t every family fun boat need a “sandbar cooler” built into the swim platform? It means anyone swimming or floating around the stern can help themselves to a cold one without having to clamber back in the boat. It’s just one of the many noteworthy features of Georgia-based Sailfish Boats’ new 316 DC dual-console making its debut at PBIBS. With its windshield, and sliding glass door (instead of the typical, unwieldy flip-over panel), the 316 offers easy access to the bow seating. The hardtop also delivers excellent protection from the sun while providing additional fishing rod holders. The rear cockpit hasseating for eight, and is available with a galley/wet bar with wine cooler, fridge and sink. Power is either twin 300-hp or 350-hp Yamaha or Mercury Verados. With the standard 300s, the new Sailfish can hit a top speed of 52 mph.

Outer Reef 900

Taiwan builder Outer Reef is showing off the new flagship in its rugged, bluewater X Class explorer series, the 900 Motoryacht. At 90 feet, it’s the biggest Outer Reef to date. It was commissioned by a US cruising couple who wanted to step up from their Outer Reef 700, with larger interior space. In other words, they wanted to move from a large motoryacht into mini-megayacht territory. With its 21-foot beam, this 900 has room for six in its three double cabins, including an apartment-sized full-beam master. Designed for long distance, off-the-grid cruising, the salty, trawler-style 900 has twin 750-hp John Deere 6135 diesels give it a top speed of 24 knots. Throttle back to around nine knots and its range is over 3,000 nautical miles.

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EXCLUSIVE: Yours for a cool £54m! Tycoon Nick Candy is selling his 63-metre superyacht complete with Jacuzzi, art-deco style interior and helipad - as billionaire and wife Holly build an even bigger one

• British billionaire businessman Candy, 47, put his stunning vessel on the market having owned it for five years
• He bought '11.11' named after his daughter's birthday in 2015 and promptly gave it an art-deco style makeover  
• Ship includes master bedroom with 180 degree sea views, Italian marble interiors and bespoke chandeliers 
• Candy said he had many happy family memories on board, but that he now feels like 'the time is right to sell' 
• He expects it to be snapped up quickly due to demand surge from mega-rich buyers during coronavirus crisis
• Candy said he and his ex-soap actress wife Holly are nine months in to a four-year project to build a new boat

By Paul Thompson for MailOnline

Published: 11:15 EDT, 19 August 2020 | Updated: 11:22 EDT, 19 August 2020

View comments

Billionaire property tycoon Nick Candy is selling his magnificent superyacht - because he is getting an even bigger one. 

Prospective buyers of the sleek 63metre-long vessel called 11.11 will need deep pockets as she is on the market for an eye-watering 59,500,000 Euros (£53,758,547.50). 

But Candy expects the yacht to be snapped up quickly thanks to a surge in demand from mega-rich buyers wanting to ride out the coronavirus pandemic on the ocean waves. 

The 47-year-old businessman who has two daughters aged six and two with wife Holly, said he had turned down previous offers for the yacht, but was now selling up as he was having a 'new and bigger' one built for his family. 

Billionaire property tycoon Nick Candy is selling his magnificent superyacht - because he is getting an even bigger one

Prospective buyers of the sleek 63metre-long vessel called 11.11 will need deep pockets as she is on the market for an eye-watering 59,500,000 Euros (£53,758,547.50)

The 47-year-old businessman said he had turned down previous offers for the yacht, but was now selling up as he was having a 'new and bigger' one built for his family

The businessman told MailOnline the ship holds many happy memories for him and his family, but now is a good time to sell 

Candy completely refurbished the boat after buying in 2015 to remove some of the wood interior and make it more to his taste

Candy and his former pop star wife Holly (above) are nine months in to a four-year project of working on a new boat together. The couple who married in 2012 after meeting in 2009 enjoyed regular holidays on the yacht

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He said: 'I've been approached over the last few years to sell it – often by charter guests who after spending one or two weeks on board want to buy it – but I've always said no. 

'I'm currently nine months down the line with designs for a new and bigger yacht, so now feels like a good time to sell, especially as there is increasing demand for superyachts which are viewed as a safer alternative to shore-based travel due to their natural isolation and self-sufficiency.'

The award-winning yacht offers the last word in nautical luxury with an art-deco style interior, featuring fittings of Italian marble, bespoke chandeliers and polished stainless steel. 

She can accommodate 12 guests in six sumptuous state cabin rooms while powering them through the waves at a top speed of 16.5 knots (19mph).

The master suite enjoys 180-degree views from six huge portrait windows flooding it with natural light, and has its own private sunbathing area and jet pool, as well as a walk-in dressing and powder room, and nursery. 

The sophisticated Benetti yacht is named 11.11 after the date of birth of Candy's elder daughter Luka who was born on November 11, 2013. 

She has 16 crew who provide guests with a level of service described by Candy as being 'like no five-star hotel on the planet'. 

The 1,181 tonne vessel is fully equipped for entertaining with an informal sky lounge featuring a custom cocktail bar. 

The lounge opens up to a deck space with a backlit dining table for up to 14 guests and an outdoor bar crafted from natural Italian fluted stone. 

The yacht's lavish sun deck features a spacious Jacuzzi and giant cushions to relax on while there is also a spa with its own massage area and mosaic-tiled steam room. 

The award-winning yacht offers the last word in nautical luxury with an art-deco style interior, featuring fittings of Italian marble, bespoke chandeliers and polished stainless steel

The 1,181 tonne vessel is fully equipped for entertaining with an informal sky lounge featuring a custom cocktail bar (above)

The sophisticated Benetti yacht is named 11.11 after the date of birth of Candy's eldest daughter Luka who was born on November 11, 2013

Guests can be ferried to and from the yacht by helicopter as it has a touch-and-go helipad on its bow as well as its own tenders and jet skis for fun on the water. 

More active guests can work up an appetite on a trampoline, a climbing wall and in a jungle gym. 

Candy, who is married to singer Holly Valance and has made billions with his brother Christian by selling homes to the super-rich has owned the yacht since it was built in 2015. 

He revealed that he had stripped out much of the interior and brought in Candy & Candy inspired fixtures and fittings to match his tastes. 

In an interview with Boat International, he said: 'There were no bars and it was designed for a Rolls-Royce Phantom to be kept in the tender garage! I didn't need any of that. 

'The sundeck was all wrong – everything was too small, the Jacuzzi, the seating. Inside it was like a Russian tsar's palace. 

'I'm not saying that's bad but it's not my family's style. It was too heavy, too classical and it was quite dark. We needed to de-wood it, basically.' 

His wife Holly played a major part in the redevelopment which made the interior almost unrecognisable with its monochrome decor complementing wall-panelling and dark surfaces. 

Artwork from revered names such as Tracy Emin and Dominic Harris added a colourful and quirky element to the vessel

The master suite enjoys 180-degree views from six huge portrait windows flooding it with natural light, and has its own private sunbathing area and jet pool, as well as a walk-in dressing and powder room, and nursery

Artwork from revered names such as Tracy Emin and Dominic Harris added a colourful and quirky element to the vessel. 

Candy even had to bring in stage hypnotist Paul McKenna to cure his wife's seasickness so she could enjoy life on the boat to the full. 

The couple who married in 2012 after meeting in 2009 enjoyed regular holidays on the yacht – but also chartered it out for 650,000 Euros a week. 

Candy added: 'We have made some amazing memories on board over the past five years. The service level on board 11.11 is like no five-star hotel on the planet. 

'The crew have taken service, food, hospitality, and maintenance of a superyacht to a whole new level. 

'But it's time to move on and build something new that works for our family and lifestyle in the future. 

'I have always had a passion for yachts and get huge enjoyment from the project side of building and designing a boat – it is not dissimilar to building a house or an apartment building.'

A spokesperson for Candy added: 'The new yacht is being built from scratch and will take around four years to complete. Nick and Holly have currently done nine months' worth of design on the new yacht with their technical and naval architects and design team.' 

11.11 which is being listed for sale by leading international yacht brokers Y.CO won awards at the World Superyacht Awards 2016 and Asia Boating Awards 2016.

Candy says he has had interest from guests who have chartered the boat for 650,000 Euros a week who have wanted to buy it

Will Christie, the Y.CO Head of Sales said: 'Demand among buyers is on the rise. In fact, in terms of sales we are busier than ever. 'We've seen a 75 per cent increase in web traffic since the start of the Covid-19 outbreak, and this has translated into a high number of enquiries, with web enquiries alone rising by 50 per cent last month and the successful sales of five pedigree yachts over 45 metres in length in the last two weeks alone. 

'The fact that yachts offer freedom away from changing travel restrictions is one factor behind this demand, but more and more we are speaking to clients who are totally changing the way they work and live, realizing that they can run their businesses remotely and therefore spend more time at sea than they had imagined before. 

'With clients who previously could not have justified yacht purchase moving into the market for the first time, we are also seeing sellers who are taking this opportunity to sell to upgrade to larger yachts. 

'11.11 is one of the most exciting yachts to come onto the market in recent years with her striking exterior and interior design. 

'She offers a huge amount of comfort in her layout - particularly in the Owners' quarters - and would make a great family yacht for any owner, no matter how long they want to spend on board. She has also built an enviable charter reputation, which adds to her appeal.'

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Billionaire businessman Nick Candy is selling his yacht for N27 billion

- British real estate Mogul Nick Candy has listed his yacht for sale at the sum of €59.5 million (N27,371,350,673.80)

- The billionaire businessman says he wants to build a bigger yacht, adding that he is still expanding

- Nick leased the yacht for charter at €650,000 (N298,886,998.47) per week for an average of eight weeks annually

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Real estate mogul Nick Candy is selling his yacht for the sum of €59.5 million (N27,371,350,673.80) and his reason is that he wants to build a bigger one.

The billionaire businessman said people tend to have a change sometimes, and at this point in his life, he is still expanding.

According to a report by Bloomberg Quint, the boat has been listed with Y.Co for €59.5 million (N27,371,350,673.80).

Candy said: “I want to build a bigger yacht. It’s like anything in life. Sometimes you want to have a change. Later in life, people contract their lives; at this age, I’m still expanding.”

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The boat, which is Christened 11.11 was used by Candy for family and business purposes. The billionaire businessman man also leased the boat for charter at €650,000 (N298,886,998.47) per week for an average of eight weeks annually.

The boat has a lavish amount of space which include the massive owner’s suite - it overlooks the bow of the ship and contains its own walk-in dressing area.

It also has six guest cabins that can host a total of 12 guests.

There is an outdoor 14-person dining area and a smaller salon. You will also find a gym and a steam room covered in mosaic tiles on the yacht.

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In other news, a fleet of supercars descended on a local petrol station in Johannesburg and caused quite a scene. The cars were filmed and when the video was posted, it soon went viral.

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Tunde Ososanya Tunde Ososanya, a former senior editor, is a graduate of Mass Communication from the Nigerian Institute of Journalism. He's passionate about what he does and finds fulfilment in informing the people. Ososanya is the author of Later Tonight: a Collection of Short Stories.

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Holly Valance’s billionaire husband buys her $53m yacht despite her getting seasick

BILLIONAIRE Nick Candy spoiled his Aussie wife, Holly Valance, with an extravagant gift. But she needed the help of a TV hypnotist to use it.

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THE billionaire husband of actress Holly Valance bought her a £26 million ($53 million) yacht — even though she got seasick.

The Sun reports tycoon Nick Candy had to call on TV hypnotist Paul McKenna, 52, to stop her throwing up on the Benetti vessel. And it has now emerged that she “hasn’t had a dose since”.

Aussie Holly, 32 — mum of two-year-old Luka — was “heavily involved” in redesigning “11.11” to make it childproof, 43-year-old Nick told Boat International magazine .

The ex- Neighbours and Strictly star also helped choose the decor including expensive artwork by Tracey Emin, 52.

“There were no bars and the sundeck was all wrong — everything was too small, the jacuzzi, the seating. Inside it was like a Russian tsar’s palace,” British property mogul Nick said of the yacht’s revamp.

“It’s not my family’s style. Functionality and comfort are the most important things. My wife told me, ‘I’m not sitting on another sofa that’s uncomfortable’.”

Nick and Holly have sailed to Monaco and St Tropez in France on the Benetti and to Capri in Italy where Simon Cowell — a pal of McKenna — was a guest on board.

This story originally appeared in The Sun .

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• Billionaire property mogul says sterling crash means London bargains
• Hopes economic climate ripe to sell his £175m One Hyde Park home
• Candy sees opportunities in Dubai, Abu Dhabi and Saudi Arabia

British billionaire property magnate Nick Candy is all lit up on our Zoom call, speaking from his family office in Mayfair, London.

“Dubai… I just love it,” he says, of the emirate he visits at least once a month – sometimes with his actor wife Holly Valance and their two daughters, but also to attend high-level business meetings.

“I’ve just come back from a family holiday in Dubai. My kids absolutely love it. It’s great weather, it’s safe, and there is so much to do,” the 49-year-old businessman tells AGBI.

Candy, the mastermind behind One Hyde Park – a landmark luxury property development of 86 apartments with total sales of $2.3 billion – says he considers Dubai to be one of the world’s top investment hot spots. 

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“The infrastructure is mind blowing. I wish Heathrow could run as smoothly as Dubai’s airports,” he says, adding that the UAE is going to be a “very good” place to develop real estate.

“I think Dubai is a great place to invest. It has a great quality of life and boasts a great education system. The city is world-class now. In the past you had some supply-demand issues where UAE property was oversupplied in the 2008 crisis, but the whole world had issues then,” Candy adds.

“When I was growing up, the world’s top cities were London, New York, and Hong Kong. Today they are Dubai, London, Singapore, New York and Miami. It’s like we are having a generational change.

And Candy believes that Dubai is here to stay, “because it has invested upfront in infrastructure and quality of life”.

“The only small deterrent is obviously the hot weather in the summer months. But most wealthy people don’t live in one place all year round. Dubai is a global gateway.”

Open to partnerships

Candy, also the founder of multimillion dollar investment firm Candy Ventures, said he would be “100 percent” open to entering commercial partnerships with Gulf governments. 

“I’d love to. Middle East governments have experiences and skills I haven’t got, and we have experiences and skill sets they haven’t got. So hopefully it’s a merger that is not one plus one equals two, but rather one plus one equals three.”

He highlights Saudi Arabia in particular for its shrewd economic leadership and purchasing power parity (PPP) opportunities.

Last month the International Monetary Fund projected that Saudi Arabia will be one of the world’s fastest-growing economies in 2022, with a growth rate of 7.6 percent, buoyed by higher oil revenues. 

The kingdom recorded the highest real GDP growth among G20 countries in the third quarter of 2022, with a rate of 8.6 percent. 

“For me, I want to be in Dubai, Abu Dhabi and Saudi Arabia. That’s where my efforts will be and I intend to work with my teams and the best-in-class people to develop world-class leading resorts.”

Closer to home, Candy reveals he is still looking for a buyer for his luxury penthouse at One Hyde Park. With a cool asking price of £175 million – the most expensive flat in Britain – it’s no surprise it’s been languishing on the market for a few months.

Candy is casting his net far and wide for buyers, including the petrol-dollar flush Gulf region.

Considered London’s first and seminal luxury property development, One Hyde Park also lays claim to Arabian links – it was developed by the CPC Group, owned by Candy’s brother Christian Candy, and Waternights, a private company owned by Sheikh Hamad Al Thani, former prime minister of Qatar.

Candy’s apartment, split over two levels with five bedrooms, is the development’s flagship 18,000 square foot penthouse.

It includes a stunning view of Hyde Park, two wraparound terraces, a champagne room, private spa and gym, media room, bar and four-car parking space.

Weak sterling windfall

Amid a backdrop of a plunging sterling, Candy says the London market is flush with international buyers.

“The UK capital is attracting new buyers because the depressed sterling means purchasers are guaranteed a 30 percent discount before even asking for one. The London real estate market is so strong at the moment… I recently put an £8.75 million property on the market and it sold at asking price within a week.”

Candy adds that London is seeing an influx of opportunistic buyers.

“These are the triple-A buyers – Asians, Americans and Arabs. They are investing in all kinds of sterling assets, including luxury property, vintage cars and even wines.”

The latest data from property agents Chestertons corroborates Candy’s statement, reporting that a drop in the value of the pound is driving interest from Middle Eastern investors pegged to the US dollar, with a 10 percent increase in enquiries for London real estate.   

Savings are being achieved on properties which, six months ago, were on the market for £4 million and would have cost around $5.23 million, and, at current exchange rates, the same property now costs around $4.32 million – a saving of almost £1 million.

Statistics from Chestertons Mena also show that the top source markets are the UAE, Saudi Arabia, Kuwait, Bahrain and Egypt. A further uplift of above 10 per cent in enquiries is expected in the coming months as the London real estate market continues to be buoyed by both the favourable exchange rates and the recent announcement of stamp duty relief.

In total there were 461 super-prime (£5 million-plus) transactions between Q1 and Q3 2022 – which is higher than the total number of sales seen in any full year between 2015 and 2020.

“London remains one of the greatest cities in the world, it has the best members clubs, restaurants and activities,” says Candy, adding that his uber-luxury penthouse has seen increased interest from Arab and Indian buyers in the last few weeks.

“My flat is attractive because of the sheer scale of it. In terms of its size, it’s like buying a rare Monet, because building large new flats in the City of Westminster these days is illegal now. Arab buyers may also be attracted to the penthouse because of its luxury services and amenities – it’s like being on a yacht.”

Candy says he received some “very good rental offers for the penthouse” but he is waiting for the asking price to sell it.

“However, I’m always open to chats,” he says, adding that he would provisionally accept Bitcoin as payment.

Now that sterling has dropped by 30 percent, “it’s brought a lot more people out of the woodwork”, say Candy, claiming that the subsequent surge in demand has bolstered – and even cancelled out – any losses from Russian buying sanctions.

Amid the Ukraine war, UK tensions with Russia have seen British visas removed from a host of oligarchs. As a result, Russian buyers now account for just 6 per cent of £10 million-plus home sales in London

“In 2011 when One Hyde Park launched, Russians and Eastern Europeans made up around 25 percent of the development’s ownership,” says Candy. “Eastern European buyers, including Russians, will represent a big proportion of potential buyers in the Middle East now as well [because of Western sanctions].”

Dubai dreams

Despite veering off to tell me about his London penthouse, it’s not long until the property mogul gets back to his favourite subject: Dubai.

Sales of off-plan and secondary properties in Dubai reached a 12-year high in the third quarter of this year, both in terms of volume and value, according to a report by Property Finder.

A total of 25,456 sales transactions worth AED69.72 billion ($18.98 billion) were recorded from July to September, marking an increase of about 62 percent in terms of volume and more than 65 percent in terms of value, compared with the third quarter of 2021.

“Dubai will be where I have one of my global homes. I absolutely love it. And if crime continues to get worse in the UK, I’d be happy to leave. I don’t want to, but if I had to then I would,” he says.

“In the West, whether it’s the US, Paris or London, despite their qualities, they all have increasing crime levels and if we don’t get it under control quickly, we are going to be in trouble.”

Candy insists that Dubai should benefit because “security and safety means a lot and offers peace of mind” to tourists and residents.

“The Western world has gone the other way,” he adds.

“I’ve been going to Dubai for a long time. In the end, I think I’m going to live there for part of the year. I want to live in London, Dubai and my country house in the Cotswolds. That would be perfect.”

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