Sunday, 24 April 2011

UK's most expensive flat sold for £135.4 million

The UK’s most expensive flat has been sold in London for £135.4 m.

One Hyde Park
Prices for a one-bedroom apartment at One Hyde Park start at £6 million Photo: BLOOMBERG

The buyer of “Flat a” at the One Hyde Park development is understood to be a Ukrainian who purchased the penthouse in cash in 2007.

The new owner is thought to be spending up to £60 million on interior work after receiving the apartment with bare walls and no amenities.

The Ukrainian used an offshore company called Water Property Holdings to buy the flat, which covers the top three floors in the Richard Rogers designed complex next to Knightsbridge.

The complex, built by a development group led by the Candy brothers, the upmarket property investors, has become the most expensive residential development with almost £1bn of sales transacted across 45 apartments.

The scheme finished in January and almost all the apartments have been bought through offshore trusts.The law firm used in the purchase is based in Russia and Ukraine. There is no mortgage linked to the property and the identity of the buyer is covered by confidentiality clauses with Project Grande (Guernsey) Limited, the developer.


Student Property Investment said...

This was an incredible purchase and the fact that it came completely unfinished is amazing. I wonder if they'll show pictures of the finished property? Can money buy taste?

Student Property Investment

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