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Candy brothers set to launch high-end property fund to snap up luxury homes

Property tycoons Nick and Christian Candy are set to list a new high-end residential property fund.<br /><br />CPC Group, Christian Candy&rsquo;s property development company, will act as the investment manager and Candy &amp; Candy &ndash; the brother&rsquo;s luxury design house famed for its sleek bespoke designs &ndash; will be providing interior design and property management services.<br /><br />It is understood the fund is set to raise &pound;50m and, after gearing, will have &pound;100m of funds available to snap up property assets which have fallen in value during the downturn.<br /><br />The brothers have appointed Smith &amp; Williamson Investment Management to advise and promote the launch.<br /><br />Meanwhile, it emerged yesterday that Candy &amp; Candy has instructed solicitors Wragge &amp; Co to sue the developers of the controversial Chelsea Barracks, Qatari Diar, development for &pound;1m in unpaid fees. A spokesman for Candy &amp; Candy said: &ldquo;We deeply regret having to take this action, but have been given no other choice. <br /><br />He added: &ldquo;We hope this unfortunate matter can be resolved quickly.&rdquo; <br /><br />Architect Lord Rogers is also suing Qatari Diar for &pound;1.7m in unpaid fees.