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Candy’s Sugar Quay Development Gains Planners’ Support

March 14 (Bloomberg) -- CPC Group, the developer owned by Christian Candy, won planners’ support to develop 165 luxury apartments near the Tower of London.

Planning officials recommend the City of London financial district approve a project to develop an eight- and 10-story residential building on the bank of the River Thames near Tower Bridge, according to documents on the council’s website.

The development will have 11 penthouse apartments with a resident’s swimming pool, gym and library, according to the document. There will be 25,372 square meters (273,102 square feet) of residential space and 658 square meters of retail space in the buildings.

Developers are build apartments in the City of London as non-prime offices on the fringes of the financial district become difficult to lease. CPC helped develop 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; Patrick Gower in London at pgower@bloomberg.net

To contact the editor responsible for this story: Andrew Blackman at ablackman@bloomberg.net

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