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August 6, 2013
Candy Acquisition : Duke’s Lodge, Holland Park W11
British luxury property developer and investor Christian Candy’s CPC group has recently acquired Duke’s Lodge through one of its SPVs on the northern edge of Holland Park for an undisclosed sum. Candy’s CPC group beat out rival developers Chelsfield, Amazon Properties, Native Land (developers of NeoBank Side, Alpha Place and 30 Old Burlington Street) and Northacre (developer of The Lancasters and Academy Gardens). Duke’s Lodge is an art deco, privately rented mansion block freehold in W11, spread over 35,550 square feet.
Built in the 1930’s, six-story Duke’s Lodge has 27 flats with two terraced penthouses, and had been put on the market by Savills earlier for £40 million. The flats are made up of two single bedroom apartments, 16 two bedroom apartments, and nine three bedroom apartments. The building is divided into two wings, north and south, with two flats a floor on each wing. The site is 0.62 acres, includes 19 off-street car parking spaces, and provides an annual income of £689,264. The building has a private, elevated communal garden that directly borders Holland Park as well as a large roof terrace with views of the park. Duke’s Lodge is also near the Holland Park tube station.
Duke’s Lodge will add to CPC’s UK private rented and development portfolio. CPC group specialises in luxury residential developments around the globe, but their most high-profile acquisitions and developments have taken place in London, most notably One Hyde Park and 21 Chesham Place.