CPC in step over barracks work

GUERNSEY-BASED CPC Group has denied claims made by the Sunday Telegraph that its role in the £1bn Chelsea Barracks development has been downgraded.

Owners Christian and Nick Candy have told the Guernsey Press that they are still joint owners of the 13-acre site in London.

The site is owned by Project Blue, a Guernsey-listed firm which is two-thirds owned by Qatari Diar Real Estate Investment Company and a third by the Candys' CPC Group.

The Sunday Telegraph reported that the Qatari ruling family was considering terminating its business partnership with the Candys and would be retaining them only as marketing managers and interior designers.

'Nothing has changed. The former Chelsea Barracks site is 100% under the ownership of a joint venture between Qatari Diar Real Estate Investment Company and CPC Group,' said Christian Candy.