Nick Candy has sold his family home in Chelsea for more than $350 million, setting a record for the most expensive single residential sale globally, despite a slowdown in London’s property market.
The Cypriot-British developer completed the deal privately, without formally marketing the property through an agency.
The mansion sits on a plot of around two acres and carries historical significance, as it stands on the site of a former residence of Robert Walpole, widely regarded as Britain’s first prime minister.
The transaction highlights continued demand for ultra-prime real estate even as higher taxes and reduced activity weigh on the UK market. Available data shows that 2025 was among the few years in the past decade with no sales above £50 million in London, while transactions over £5 million dropped sharply.
The sale exceeds previous high-profile deals, including a mansion overlooking Hyde Park sold for £210 million in 2020 and a New York penthouse bought by Ken Griffin for nearly $240 million. Recent deals in London have been significantly lower, making Candy’s sale stand out.
Candy built his career in ultra-luxury residential developments alongside his brother, Christian Candy. Together they developed projects targeting a narrow but wealthy global clientele, most notably One Hyde Park, which set new benchmarks for pricing and specifications in the ultra-prime segment.
In recent years, Candy has expanded beyond the UK, focusing on the Middle East, where demand for high-end developments remains strong. Through his company, Candy London, he has been involved in projects combining high-end design with services aimed at international high-net-worth clients.
Born in London in 1973 to a Greek Cypriot mother and an English father, Candy studied geography at the University of Reading and began his career in advertising before moving into property.
In 1995, he and his brother took out a £6,000 loan from their grandmother to buy a small flat in Earl’s Court. They renovated it themselves and sold it about 18 months later for a £50,000 profit, repeating the model in subsequent years as they moved up the market.
By the late 1990s, they had left their jobs to found Candy & Candy, which grew into a globally recognised luxury development and design business.
Candy later established Candy Ventures to diversify into sectors including technology, media and energy.
His wealth is now estimated in the billions, and by 2010 he and his brother were among the UK’s richest developers, with a combined net worth approaching £1.5 billion.
Candy has also drawn public attention for his personal life following his recent separation from Holly Valance. He has served as honorary treasurer of Reform UK, a party associated with the political legacy of Nigel Farage.