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03 February 2011

One Hyde Park, the world's most expensive apartments

The world’s most expensive residential apartments at One Hyde Park have been officially unveiled today by the colourful property duo, the Candy brothers

Around 350 guests have been asked to an extravagant launch party at the Knightsbridge development, where they will be shown the apartments which reportedly start a £6.5m for one bedroom and go up to £140m for a penthouse.


The prices, averaging about £6,000 a square foot, are the highest ever paid for residential space, according to property experts. As well as interiors designed by the Candys, residents at the highly anticipated development can call on valets, a concierge and butler room service from the next-door Mandarin Oriental hotel’s two restaurants, overseen by Heston Blumenthal and Daniel Boulud.

The buildings have shared features including a cinema, a 21m swimming pool, saunas, a gym, a golf simulator and a wine cellar. There are eye-scanners in the lifts and panic rooms for added security. The development, which is the Candys most ambitious project yet, is a joint venture between their Gurnsey-based vehicle, CPC Group, and Waterknights, a company owned by the Qatari prime minister, Sheikh Hamad bin Jassim bin Jabr Al Thani.

 It is being watched as a litmus test for the financial health of the super-rich and the popularity of London in the wake of the financial crisis. When the brothers started the project four years ago, it attracted criticism for being too extravagant and expensive. With the onslaught of the credit crisis, many believed that the development would never sell.

But the Candys claim that 60pc of the 83 apartments have already been snapped up, mainly by foreign buyers from the Middle East and Asia.Property experts say that international buyers view London as a stable, safe market for money. The continued weakness of the pound, which is trading 20pc lower against the dollar compared to 2008, has also helped to stimulate the London property market.

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