Reform UK donor and treasurer Nick Candy has completed the sale of his Chelsea residence for approximately £270million, setting a new record for the most expensive home ever sold in London.
The transaction, first reported by Bloomberg, marks the capital's highest-value residential sale on record.
Providence House, a 19th-century mansion located within the grounds of Chelsea's Royal Hospital, attracted multiple offers despite never being formally listed on the market.
An unnamed buyer secured the property, which sits on land once belonging to Sir Robert Walpole, widely regarded as Britain's first prime minister.
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Mr Candy had shared the home with his wife, former actress Holly Valance, before the couple filed for divorce last year following 13 years of marriage.
The Grade II-listed mansion, originally named Gordon House, occupies a two-acre site and retains its Georgian architectural features throughout the interior.
Christian Candy initially purchased the property at auction for £75million before gifting it to his brother in 2014.
Prior to transferring ownership, plans were submitted for additions including a bowling alley, cinema and private spa.
Nick Candy Chelsea mansion sale £270million sets new London property record
|GETTY
Mr Candy later completed a comprehensive renovation of the estate and renamed it Providence House.
The sale represents a significant increase in value, with the property rising to nearly four times its original purchase price.
His former property's historical connection to Sir Robert Walpole adds to its status as one of London's most notable residential addresses, with it including features such as a lake and an underground swimming pool.
The transaction comes amid weaker conditions in London's prime property market.
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High taxation and changes to non-domiciled status rules have affected demand among international buyers
|GETTY
Last year's largest sale reached £41million when Charles Lorenceau, founder of private equity firm Ace & Co, purchased a mansion.
Other deals were recorded around the £40million level, including a St John's Wood property acquired by film director George Lucas.
The previous London record stood at £210million, paid in 2020 by the family of Hui Ka Yan, founder of the Chinese property company Evergrande.
Mr Candy built his reputation through property development, including the creation of One Hyde Park in Knightsbridge, where apartments are valued in the tens of millions.
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| GETTYHe also owns a penthouse within that development featuring five bedrooms, eight bathrooms and two wine cellars, which he listed for £175million in 2021.
Mr Candy has donated more than £1million to campaigns linked to Nigel Farage, and previously spoken about concerns regarding crime in London and broader issues affecting the capital.
Last month, he said: "Rising crime, declining investor confidence and years of political mismanagement" were contributing to challenges facing London while also praising Gulf states for their "forward-looking" approach.
His interior design and property development businesses are now pursuing opportunities in the UAE.