Property developer Nick Candy has sold his Chelsea mansion for a reported £275 million, in what is believed to be the most expensive residential property transaction on record in London and one of the largest globally.
The sale of Providence House was first reported by Bloomberg. Candy, who serves as honorary treasurer of Reform UK, declined to comment on the transaction. The buyer has not been made public.
Property details
The Grade II-listed mansion sits within the grounds of Royal Chelsea Hospital and includes a lake and swimming pool. Land Registry records show the property is currently owned by Providence House LLP, a partnership controlled by Candy. His estranged wife, Holly Valance, the former pop singer and actor, is another member of the partnership. The title also has a bank charge registered with First Abu Dhabi Bank.
Providence House was purchased by Christian Candy in 2012 and later transferred to Nick Candy. The property hosted a fundraising event for Donald Trump in 2024, attended by the US president’s son Donald Trump Jr.
Wider property portfolio
The sale comes as developer debt issues continue to affect London’s property market. Candy has been attempting to sell a £175 million penthouse flat at One Hyde Park in London, which has a mortgage with Bank of Singapore. He also has a mansion in Los Angeles listed for sale.
Candy owns offices at Upper Brook Street in Mayfair, where Reform UK‘s Nigel Farage’s company, Thorn in the Side, is also based. He is listed as the most recent ultimate beneficial owner of another Chelsea townhouse via a Guernsey company, although its annual statement of ownership is months overdue.
Political connections
Candy donated approximately £1 million to Reform UK last year and plays a significant role in the party’s fundraising activities. He was present when Reform announced plans to attract wealthy individuals to the UK with a £250,000 fee for 10 years of residency and a special tax regime. He also attended a meeting between Farage and billionaire Elon Musk at Trump’s Mar-a-Lago resort in December 2024.
The Candy brothers made their fortune trading property in London and internationally. The £275 million transaction, if confirmed, would set a new benchmark for residential property values in the capital.
