Newspaper article The Evening Standard (London, England)

THE [Pounds Sterling]140 MILLION PENTHOUSE FLAT; SUPER-RICH PUSH UP THE PRICE OF TROPHY PROPERTIES IN LONDON; SAS-Trained Guards for [Pounds Sterling]140m Flat

Newspaper article The Evening Standard (London, England)

THE [Pounds Sterling]140 MILLION PENTHOUSE FLAT; SUPER-RICH PUSH UP THE PRICE OF TROPHY PROPERTIES IN LONDON; SAS-Trained Guards for [Pounds Sterling]140m Flat

Article excerpt

Byline: Mira Bar-Hillel Property Correspondent and Sri Carmichael

A LONDON penthouse flat is set to be sold for more than [pounds sterling]140 million as super-rich international buyers snap up "trophy properties" in the capital, the Standard reveals today.

The two-floor apartment at the One Hyde Park development in Knightsbridge features bullet-proof windows, an air purifying system and a panic room.

The flat, possibly the most expensive in the world, is believed to cost more than [pounds sterling]6,000 a square foot compared with the Kensington and Chelsea average of [pounds sterling]1,214 and capital wide average of [pounds sterling]450.

The price illustrates the stark differences between how the super-prime and mainstream residential markets in the capital are faring. International buyers are still investing in London, attracted by the weakness of the pound, as many Londoners pull out of the market.

Trevor Abrahamson, of estate agent Glentree Estates, said: "This is a huge price but it's not surprising. In the last six months we have sold more trophy properties than we have in the last two years. One minute there was an over supply and then there was a shortage. Prices are high.

"London has recovered much better than other prime markets around the world. It draws buyers from the most eclectic range of destinations and it will always be seen as the capital of capitals financially and culturally."

One Hyde Park, next door to the Mandarin Oriental Hotel, features more than 80 flats in four linked towers designed by architect Lord Rogers.

The complex includes spas, squash courts and a private wine-tasting facility. Everyone on site will have access to a private underground passage to the hotel and 24-hour room service from the hotel, where Michelinstarred chef Heston Blumenthal is opening his first London restaurant. …

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