Half-a-million a month to rent Nick Candy’s One Hyde Park penthouse

The property tycoon Nick Candy is demanding £150,000 a week rent for his two-storey penthouse at One Hyde Park, which would be the highest price yet paid by a tenant in Britain.

The Times revealed yesterday that the developer had taken out an £80m mortgage, one of the largest yet advanced, with Credit Suisse as part of a financial restructuring that would involve transferring ownership of the £160m apartment to a company based in Guernsey and renting it out.

The penthouse has heated marble floors, two wine cellars, a steel car lift and a pedicure room. It has stood empty since Mr Candy, 45, his wife, the Australian actress Holly Valance, 35, and their family moved to a £75 million mansion in Chelsea in December. The family had lived in the flat for five years.

in a second article, The Times asks what Nick Candy’s decision to refinance his £160m two-floor penthouse in One Hyde Park — the brothers’ trophy 2011 development, which commanded the highest price per square foot ever seen in London — mean for the luxury market.

Click here for the full Times article (£)

Click here for the full Times analysis (£)