Luxe London developer Nick Candy might see Goldfields House as a sweet possibility
Upmarket London developer Nick Candy met executives from US private equity giant Blackstone Group, owner of Goldfields House redevelopment site, on his recent trip to Australia.
The coveted 25-storey Sydney property overlooking Circular Quay has some of the best views in town and has been mooted for a luxury residential redevelopment for the past few years.
It has been suggested that Candy brothers Nick and Christian might see the coveted harbourfront site as their envisaged first Australian project.
Blackstone now has control of its future following the exit of Valad. The 1966 office block's most recent valuation was $290 million.
A Candy spokesperson has confirmed that he met Blackstone executives, but would not comment on "specific deals" when asked by The Australian.
The brothers are known for One Hyde Park, the world's glitziest apartment blocks in the well-heeled London suburb of Knightsbridge.
Prices for the 86 apartments start from £6.75 million ($10.6m) for a one-bedroom flat.
Its penthouse set a record, selling £136 million in April.
It was a joint venture between Christian Candy's Guernsey-based CPC Group and Waterknights, owned by Qatari Prime Minister Sheikh Hamad bin Jassim bin Jabr Al Thani.
Nick Candy came to Australia recently with his partner, the Australian actress Holly Valance.
"We would love to do the One Hyde Park in Sydney," Nick Candy said last month.
"We bring development management expertise, understanding how to build for the super wealthy.
"But we would want to have a local partner because of the planning laws and construction."
Previously local developers including Grocon, Lang Walker, Mirvac and Lend Lease have expressed interest in the site.
Blackstone awaits development approval from the Sydney City Council for two residential towers with about 40,000 square metres of residential space.
Valad bought the site in 2006 for $274 million and sold a 40% stake to the Dutch pension fund APG in 2008.
In May, when Blackstone’s takeover offer was mooted, Valad said that the Sydney Local Environment Plan 2005 (Amendment No. 2), which was previously approved by the Sydney City Council, had been gazetted by the government.
''This enables Valad to pursue development approval for the redevelopment of Goldfields House,'' Valad's then acting chief executive Clem Salwin said.
