LONDON: The unit flat at London’s iconic apartment project One Hyde Park in Knightsbridge which is up for sale with a price tag of £65 million (RM320 million) is currently generating strong interest from Asian buyers.
One Hyde Park was developed through a joint venture between Christian and Nick Candy of CPC Group Ltd and Qatari Prime Minister Sheikh Hamad’s Waterknights. CPC Group was established in 2004 to specialise in exclusive residential developments around the world.
Among its existing developments include 21 Chesham Place which comprises six apartments located in the heart of London’s Belgravia and Peel House comprising 66 apartments and four townhouses located in the heart of Westminster.
The 86-unit One Hyde Park was completed in March 2009 and currently only four apartments are left for sale. Apartments at One Hyde Park are arguably one of the most expensive in the world with units fetching up to £11,000 (RM54,600) psf.
At the base of one block of the four blocks is a McLaren showroom while another block houses a Rolex outlet. According to Louise Hewlett of luxury estate agents Aylesford International, Asian and European buyers have demonstrated significant interest in the show unit currently up for sale.
The unit stretches across an entire floor plate and offers views of both Knightsbridge and Hyde Park. With a built-up of 9,000 sq ft, the unit is divided into two wings — the city view and the park view.
It has five bedrooms and six bathrooms located in the city view wing while the living and entertainment spaces are located in the park view wing in addition to three extensive reception areas.
There is a 65-metre hallway that connects the park wing to the city wing. The interior design and décor of the unit is by the exclusive Candy & Candy interior design team.
“We have had significant interest from Asian and European buyers all of whom have been impressed by the exceptional standard of decoration and furnishings, as well as the full concierge and hotel services offered by the Mandarin Oriental Hotel,” Hewlett said.
One Hyde Park is also the first European Residences of Mandarin Oriental. The extensive amenities and facilities available exclusively to residents are comparable to any leading luxury hotel in the world and include a private cinema, 21m ozone swimming pool, entertainment room, private spa, state-of-the-art gym, golf simulator, underground valet parking, personal wine storage and squash court.
“Ultimately, the successful purchaser will be confident in the knowledge that they have acquired the very best apartment in London.” Online business and financial news website Business Insider has revealed that among those who bought one of the units here are Ukrainian oligarch Rinat Akhmetov (US$221 million or RM682.9 million); Australian singer Kylie Minogue (US$25 million); copper baron Vladimir Kim (US$33.5 million) and Irish property developer Ray Grehen (US$8.8 million).
Of course, the developers were the first to buy into the building. Sheikh Hamad paid £40.25 million for his triplex while Christian Candy paid a combined £56.6 million for two apartments. According to Hewlett, One Hyde Park has reinforced Knightsbridge as a prime London residential address.
“This in turn has increased the value on other high standard residential developments and buildings in the immediate location,” said Hewlett.
According to London property consultancy the Beauchamp Estates’ August 2012 research, prime London rental values saw an increase by 5% in the second quarter of 2012 despite a lacklustre performance in the first three months of the year.
The rental value increase was spurred by the volume of properties let between April and June which was 5.8% higher than the first three months, an increase of 8% over the same quarter in 2011. Two penthouses in Knightsbridge currently to let through Beauchamp Estates is going for £15,000 to £20,000 per week.
This article is appeared in The Edge Financial Daily on 14 September, 2012.