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http://www.businessweek.com/news/2012-11-26/candy-seeks-planning-approval-for-city-of-london-condos

Bloomberg News

Candy Seeks Planning Approval for City of London Condos

November 26, 2012

CPC Group, the developer owned by Christian Candy, asked for planning permission to build 165 apartments near the Tower of London.

CPC bought the Sugar Quay site in the City of London financial district in February and is seeking to develop an 11- story building with apartments and a shop on the bank of the River Thames near Tower Bridge, the closely-held company said today in a statement.

Developers are turning obsolete commercial buildings into apartments in the City of London as non-prime offices on the fringes of the financial district become difficult to lease. Architects Foster + Partners have been working with CPC on the development proposal, according to the statement. The site already had planning permission for an office building when it was bought by Guernsey, Channel Islands-based CPC, according to the company’s website.

CPC plans to improve “the vitality and character of the area whilst delivering an exceptional living experience in a prominent location in the City of London,” it said in the e- mailed statement.

CPC developed the luxury One Hyde Park apartment project in Knightsbridge as part of a joint venture with Qatar Prime Minister Sheikh Hamad Bin Jasim Bin Jaber al Thani’s closely held Waterknights.

To contact the reporters on this story: Chris Spillane in London at cspillane3@bloomberg.net; Neil Callanan in London at ncallanan@bloomberg.net.

To contact the editor responsible for this story: Ross Larsen at rlarsen2@bloomberg.net


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