Former Qatar prime minister accused of role in sabotaging penthouse sale
Sheikh Hamad is caught up in ₤1.5bn legal dispute in London
Property tycoon Nick Candy is fighting a £1.5 billion (Dh7.19bn) legal claim over his £160 million penthouse – thought to be the most expensive property in Britain – over a claim he and a former prime minister of Qatar sabotaged a deal to sell the property.
Company director Michael Brown said he was negotiating a £175m deal to buy Mr Candy’s luxury two-storey penthouse at One Hyde Park in London, on behalf of a member of the Saudi royal family in July 2016.
In papers before the court, Mr Brown alleged that Mr Candy had a secret agenda during negotiations, with the behaviour of the owner and his client causing the sale to fall through.
Mr Brown suffered a “substantial financial loss” as a result of the deal collapsing.
Sheikh Hamad Al Thani, former Qatari prime minister and a member of the country’s royal family, is accused of taking part in “imbecilic behaviour” to help the sale fall through, according to the claim.
Already the owner of two flats in the building, Sheikh Hamad imposed conditions that ensured the Saudi royal would not become his neighbour.
Although Sheikh Hamad stepped down as Qatari prime minister in 2013, he has continued to represent the country’s financial interests in London.
In addition to the flats in One Hyde Park, he also owns a Grade II listed mansion off Belgrave Square that has been described Britain’s most expensive private home.
Forbes estimates the former prime minister’s net worth at $1.2bn (Dh4.41bn), which includes 3 per cent of Deutsche Bank, his biggest publicly traded holding, and stakes in luxury British properties including Harrods, the Shard, Chelsea Barracks, Canary Wharf, the London Stock Exchange, the Berkeley and the Connaught Hotels.
The developer of One Hyde Park is a joint venture between CPC Group and Waterknights, a private company owned by Sheikh Hamad.
Candy Capital, which is run by Mr Candy, were the interior designers and development managers at the property.
Mr Brown claims he was negotiating the deal for the penthouse at the same time that Mr Candy, 46, and his younger brother Christian, were fighting a £132m legal battle against Mark Holyoake, their former business associate.
“Mr Brown is claiming financial loss for the sale of a penthouse at One Hyde Park that never took place, to a potential purchaser he claimed to have – who may or may not have existed – and who never visited One Hyde Park or the penthouse in question,” a spokeswoman for Mr Candy told The National.
She said that Mr Candy planned to sue Mr Brown for all legal costs associated with defending the claim, “currently in excess of £20,000”. The other defendants will have their own legal fees.
The hearing will take place at the High Court on May 22.
Mr Candy previously lived in the property in Knightsbridge, south of Hyde Park, with pop star wife Holly Valance. He later moved to a £75m mansion in Chelsea.
In October last year, the property developer took out an £80m mortgage with Credit Suisse on the Hyde Park penthouse, one of 86 apartments in the luxury tower block.
The apartment is said to have skyline views of London, with bulletproof glass, heated marble floors, a pedicure room and two wine cellars.
The block has a 21-metre swimming pool, cinema, saunas and room service through a tunnel from the Mandarin Oriental hotel next door.