Want to know what the most expensive address is in London today? Then look no further than One Hyde Park, Knightsbridge, which recently sold for a record breaking £140 million.
The recession hasn’t hit the super-rich it seems, and the capitals market for the “trophy” home is booming. Despite prices in London remained eye-wateringly high for the average home owner, when money is no object it’s evident the lofty budgets of the worlds millionaires and billionaires aren’t effected.
So what do you get for £140 million? The opulent apartment, set to be the most expensive flat in the world, boasts six-bedrooms, stretches across two floors and includes bullet-proof windows, access to 24-hour room service from the neighbouring Mandarin Oriental hotel, protection from SAS-trained security guards, a panic room and views across the Serpentine.
The development of One Hyde Park was managed by Christian and Nick Candy, of property development company Candy & Candy. The project features 80 flats designed by architect Richard Rogers with communal spas, squash courts and a private wine-tasting facility.
The penthouse is part of one of London’s most opulent developments, and this record breaking sale demonstrates the increase in the market for “trophy homes” despite the wider property slump.
The £140 million price tag makes the penthouse the most expensive property in Britain, dwarfing London’s earlier record of £115 million paid for a flat at the exclusive 8 St James’s Square development in Westminster in 2008.
It has been widely reported that the super-rich have returned to the London market in droves over the past six months, sending “trophy” home prices to new highs.
However, the overall housing market has begun to deteriorate again after months of recovery, according to figures released yesterday by the Royal Institute of Chartered Surveyors.
London remains the capital of capitals in the eyes of the international business community. Those with no interests of settling continue to buy property in London as it serves to boost both the owners prestige and is an undeniable investment.
Whether your budget will strech as far as Knightsbridge or you prefer something slightly more modest trust RIB to attract those crucial buyers and find the right property for you.
RIB is an independent partnership that has been established for over 40 years, enjoying an enviable reputation and providing exceptional specialist knowledge.
Established in 1962, they are able to provide a wealth of experience across the full range of property services for our clients.
Visit www.rib.co.ukto begin your smooth and successful relocation to or within London.
Nicky Smith is a professional copy writer and blogger from Poole, Dorset.