London’s £140m penthouse flat as super-rich buy trophy properties

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 Michelin-starred chef Heston Blumenthal is opening his first London restaurant. It is understood that SAS-trained guards and iris scanners provide extra security to the apartments, which are due to be completed in October. Surrey-born property tycoons, brothers Christian and Nick Candy, manage the development through their company Candy & Candy. Christian Candy’s CPC Group bought the One Hyde Park site for £150 million in 2004. It used to be occupied by a rundown Fifties office block called Bowater House.

Asia’s most expensive apartment was sold in June 2008 for $28.8 million, an 80th floor penthouse minutes from Hong Kong’s central business district. In Sydney a penthouse with views of the harbour and Opera House sold for 20 million US dollars.
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