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25/06/2010
Developer 'Gets Nothing' In Barracks Ruling
Developers CPC Group has partially won a High Court battle after a judge ruled in their favour over a housing project on the Chelsea Barracks site in London.
Property developer Christain Candy claimed his development partner, Qatari withdrew a planning application after the Prince of Wales complained about its design.
Mr Justice Vos found the Qatari partners breached the terms of their agreement, however, he said the CPC Group was not entitled to the early payment of £68.5m but would consider any subsequent damages.
The judge said the partners in development "were faced with a very difficult position once the Prince of Wales intervened in the planning process".
"His intervention was no doubt unexpected and unwelcome."
Qatari Diar breached the contract because "it was between a rock and a hard place," Vos said.
"The parties' suspicions of one another have turned out to be rather exaggerated."
The 12.8-acre barracks site is in one of London's most expensive residential areas and was sold by the Ministry of Defence for £959 million to Qatari Diar and CPC Group.
(CD/BMcC)
Property developer Christain Candy claimed his development partner, Qatari withdrew a planning application after the Prince of Wales complained about its design.
Mr Justice Vos found the Qatari partners breached the terms of their agreement, however, he said the CPC Group was not entitled to the early payment of £68.5m but would consider any subsequent damages.
The judge said the partners in development "were faced with a very difficult position once the Prince of Wales intervened in the planning process".
"His intervention was no doubt unexpected and unwelcome."
Qatari Diar breached the contract because "it was between a rock and a hard place," Vos said.
"The parties' suspicions of one another have turned out to be rather exaggerated."
The 12.8-acre barracks site is in one of London's most expensive residential areas and was sold by the Ministry of Defence for £959 million to Qatari Diar and CPC Group.
(CD/BMcC)
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