$115m London Apartment

Market Insights
8 years ago
1 minutes

An apartment in London, has gone on to the market for a cool $115m AUD (£75,000,000) in an attempt to put London on top of the real estate money map.

This 5 bedroom, extravagant apartment, is located at One Hyde Park, providing unparalleled views of Hyde Park and Knightsbridge. 

Incredibly, the stamp duty on such an apartment would amount to around $17m (£9,000,000), with a garbage bin occupying around $16,000 worth of space. 

The apartment is spread over two wings, with the bedrooms all located on the 'city' wing, whilst the cinema and entertainment areas are located on the 'park' wing.

Like all the properties in One Hyde Park, they are very discreet and secret about both the occupiers, be they celebrities or royalty, and the price is usually undisclosed.

Indepedent buying-agent Henry Pryor believes that these are 'trophy homes' with price not being a factor at all.

"These are people who buy property just as they buy cars or watches - it's about a statement and not absolute value.

"A Swatch watch tells the time as accurately as a Jaeger Lecoultre but for £4,000 less.

"A Fiat Cinquecento will get you to Waitrose in Motcomb Street in Belgravia as fast as a Ferrari and probably be easier to park when you get there but this is as much about status as it is about practical living.

"So long as London remains one of the addresses that the rich and famous want to include on their note paper they don't really care what they pay."

A one-bedroom apartment in the same building recently sold for $20m AUD (£10,000,000).

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