Billionaire property developer Christian Candy says allegations of intimidation and extortion are ‘preposterous’

Property tycoon Christian Candy and popstar Holly ValanceLuke MacGregor/Reuters

• Property tycoon Christian Candy and his brother Nick are fighting a £132 million lawsuit brought by developer Mark Holyoake.
• Candy described Holyoake’s allegations of a conspiracy to edge him out of a property deal as “preposterous”.
• Christian Candy also denied threatening to place so much stress on Holyoake’s wife that she would have a miscarriage.

Property tycoon Christian Candy has categorically denied allegations that he threatened to “fuck up” a former friend, Mark Holyoake, and that he cheated him out of a property deal.

Candy described allegations that he had conspired for three years to oust Mark Holyoake from the deal as “nothing short of preposterous.” In a witness statement filed to the high court, Candy also “categorically” rejected claims that he had threatened to cause Mark Holyoake’s wife Emma a miscarriage, as she alleged this week.

He said: “I am a businessman, and I am a hard negotiator when I need to be, but I would never (and never did in the context of my dealings with Mr Holyoake) resort to threats or illegal acts in order to complete a transaction.”

Candy is fighting, along with his brother Nick, a £132 million suit brought by Holyoake in relation to a development project in London, Grosvenor Gardens.

Grosvenor Gardens is close to Buckingham Palace.Reuters

Holyoake has alleged that Christian Candy’s CPC Group loaned him £12 million to buy the property for redevelopment. He claimed he was then intimidated into selling the property early to repay the loan, pulling out of the development, and losing out on an estimated £100 million in profit. He has said he was “fearful for his own safety”.

In response, Christian Candy denied making “threats” several times during his 118-page witness statement.

He did state that he became “frustrated” with Holyoake as their dealings went on.

In one particular incident, he said he used “colourful language” during a phone call and described Holyoake as a “pathological liar.” But he denied ever threatening to “fuck up” or “destroy” Holyoake’s world, as alleged by Emma Holyoake on Tuesday.

Candy counter-alleged that Holyoake had “misled” him by asking for the £12 million loan urgently, and then failing “to keep his end of the bargain” when it came to repayment.

The has shone an unwelcome spotlight onto the Candy brothers’ dealings. The two are best known for redeveloping the luxury apartment block One Hyde Park in London, but little is known about the pair’s relationships or business dealings.

Billionaire property tycoon Nick Candy and his wife, popstar Holly ValanceLuke MacGregor/Reuters

Nick Candy allegedly has a lavish lifestyle, boasts about being on the Sunday Times Rich List, and flaunted his yacht at the Cannes Lions advertising festival last year, according to evidence filed to the high court. He is also married to popstar Holly Valance.

In his witness statement, Christian Candy sought to give the impression of a caring brother saying, that as the wealthier of the two, he often gave Nick “gifts.” He said:

“Whilst we do not always agree on everything, blood is thicker than water. When deciding to make gifts to Nick, I have also taken into account that our father, who died from cancer in September 2013, had said not long before his death that he wished the two of us were equally wealthy.”

Under cross-examination from Roger Stewart QC, representing the Holyoake, Christian Candy was asked if he was a wealthy man.

Candy, wearing a dark suit and light pink tie, simply said: “Yes.” In his statement, he revealed he lived in Windsor, rather than Monaco as is often reported.

He also said that Nick is the sole owner of interior design company Candy & Candy, as of 2011. Christian had formerly been a co-owner. Now Christian remains at the head of CPC Group, which specialises in property. Nick has no involvement with the group.

The case continues.