Christian Candy’s CPC Group has withdrawn a prime residential site in London’s affluent Holland Park from the market.
CPC is believed to have made the decision three weeks ago not to sell the £75m Duke’s Lodge site, which it bought in August 2013 for a redevelopment and put up for sale through Knight Frank and Savills in June 2017.
A source close to CPC said that Candy had opted to develop out the site himself.
A timeline was not given.
Any ability to secure development finance will be highly dependent on lenders’ confidence in the cooling prime residential market.
The 35,550 sq ft freehold purpose-built 1930s seven-storey mansion block is located on the edge of Holland Park, and comprises 27 residential apartments.
Developers had previously described the proposed sale of Duke’s Lodge as a “bellweather” for the London prime market.
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