A flat with no walls or floors sells for £140m
While we’re all struggling just to pay our utility bills, with enough left over to buy a loaf of bread, the most expensive flat in London has just been sold for £140m.
At the moment, the penthouse is just a shell, and it doesn’t even have any walls, floors or a bathroom (walls, floors and bathrooms are soooo passé). But that hasn’t stopped a mystery buyer, who is from Russia or Ukraine, from snapping it up.
It’s what’s called a ‘core and shell’ property, and the owner can decide where they want the walls afterwards, and where to install the swimming pool/home cinema/massive gold statue of a naked lady.
The 16,000 s.q foot pad has all the space that a deposed Ukranian prime minister – er, I mean random billionaire – could ever need, and the address, One Hyde Park, means that it’s as London as it gets, with views over the park on one side, and view of Harrods and Knightbridge on the other.
It’s also the highest asking price ever for a London flat. A mansion in Mayfair was on sale for £250m last year, but nobody had enough money to buy it. One Hyde Park is a magnet for moneybags, with all four penthouses now sold, mostly to foreign buyers.
But what does this mean for the rest of us, trying to get a foot on the property ladder? Well, it seems that the London housing bubble is in real danger of bursting, with John Cunliffe from the Bank of England saying :‘It would dangerous to ignore the momentum that has built up’ and that the property market has ‘contributed towards economic and financial instability’.
Still, nice gaff if you can afford it. Well, it will be when they put some walls in it.