Property developer and treasurer of Reform UK, Nick Candy, has finalized the sale of his Chelsea mansion, Providence House, for over £270 million. This transaction is believed to be the largest single residential sale in history.
Providence House was sold to an undisclosed buyer, with Sotheby’s International Realty facilitating the deal. The property was originally acquired by Candy’s brother, Christian Candy, in 2012 for approximately £75 million when it was known as Gordon House. Ownership was transferred to Nick Candy two years later, as documented in court filings.
Details of Providence House
This Grade II-listed residence is situated within the grounds of the Royal Hospital Chelsea, occupying a two-acre site that once housed the residence of Robert Walpole, Britain’s first Prime Minister. Providence House has been transformed into a luxurious estate, featuring a lake, swimming pool, and a panic room, while retaining original Georgian architectural elements. Notably, it served as the venue for a fundraising event for Donald Trump in 2024, attended by Donald Trump Jr.
With this sale, Providence House is now recognized as the most expensive residential property transaction in the UK, if not globally. The sale price surpasses the previous record of £210 million for a 45-room mansion overlooking Hyde Park in 2020 and a 40-room property in Regent’s Park that sold for £139 million in 2024. Additionally, it exceeds the nearly $240 million sale of a New York penthouse to hedge fund manager Ken Griffin.
Other Properties and Market Trends
In addition to Providence House, Nick Candy has another property on the market: a five-bedroom, eight-bathroom penthouse in One Hyde Park, listed with an asking price of £175 million. This apartment has an outstanding mortgage owed to the Bank of Singapore, with records indicating that the original mortgage was over £80 million.
Despite the record-breaking sale, London’s property market is currently experiencing a downturn, with property data firm LonRes reporting a 31% decrease in sales of prime properties in February compared to the previous year. Increased property taxes seem to have dampened demand for London’s most expensive homes, marking 2025 as only the second year since 2011 without a sale exceeding £50 million.
Background on Nick Candy
Nick and Christian Candy are renowned for their development of the luxury apartment complex One Hyde Park, which debuted in 2011 and attracted numerous wealthy buyers, including oligarchs. Previously a donor to the Conservative Party, Nick Candy has been a prominent figure in Reform UK since 2025, significantly contributing to fundraising efforts and donating approximately £1 million to the party last year.
As the party’s treasurer, Candy was seen alongside Reform UK leader Nigel Farage last year when the party proposed a plan to entice affluent individuals to the UK through a £250,000 fee for a decade of residency and a tailored tax regime. He also participated in a meeting in December 2024 between Farage and billionaire Elon Musk at Mar-a-Lago, the resort owned by former President Donald Trump.
Previously, Candy resided at Providence House with his ex-wife, Holly Valance, with the couple announcing their divorce last year.
Bildquelle: Bildquelle: Siegfried Poepperl auf Unsplash
