Reform Treasurer Nick Candy Sells Chelsea Mansion for Record £270 Million
Reform UK treasurer Nick Candy has reportedly sold his luxurious mansion in London's exclusive Chelsea district for more than £270 million, in what is believed to be the most expensive house sale in recorded history. The billionaire property developer, who has served as Reform's treasurer since defecting from the Conservative Party in 2024, completed the transaction with an undisclosed buyer, maintaining secrecy around the landmark deal.
Historic Property and Secret Buyer
The Grade II-listed Providence House, which sits on two acres of grounds that once accommodated the residence of Britain's first prime minister, Robert Walpole, features original Georgian details, a lake, and a swimming pool. Despite never being formally marketed, the property received a string of offers before the sale was finalized. Nick Candy declined to comment on the transaction, which was first reported by Bloomberg.
Political and Financial Background
Nick Candy is a major donor and leading fundraiser for Reform UK, having contributed an estimated £1 million last year. When he joined the party, he stated he would raise more money for it than any political party in the UK had ever raised. Together with his brother Christian, he developed One Hyde Park in London, where apartments sell for tens of millions of pounds. His interior design and development management business, Candy London, which designed the newly sold house, has undertaken projects globally, including in London, New York, Los Angeles, and the Middle East.
Record-Breaking Sale in Context
The purchase price of at least £270 million surpasses the £210 million paid in 2020 for a 45-room mansion overlooking Hyde Park, ultimately owned by the family of Hui Ka Yan, founder of the China Evergrande Group. It also exceeds the £245 million sale of a home in Hong Kong in 2017, previously thought to be the world's priciest property sale. In contrast, the most expensive London home sold last year was a £41 million mansion, while American fashion designer Tom Ford bought a Chelsea mansion in 2024 for over £80 million.
Market Trends and Personal Developments
Higher property taxes have dampened demand for London's priciest homes, with last year being only the second since 2011 in which no sales above £50 million were recorded. In a separate development, Nick Candy's company was awarded more than £4.6 million in damages last year after being misled to invest in a technology start-up. The billionaire and his ex-wife, actress Holly Valance, announced their divorce last year, and Candy has previously expressed belief that Reform UK would win the next general election.
