Five more sales to Asian buyers make One Hyde Park luxury Tower of Babel
The prestigious residential development One Hyde Park in Knightsbridge, London, has just the six apartments left for sale in the high-profile apartment complex.
With the total sales now standing at over £1.7 billion (€2.1 billion, $2.7 billion), One Hyde Park has attracted international buyers from across the globe, from China to America, to Russia, the Middle East and Europe. There were 86 apartments in the development.
There are now 25 nationalities represented at One Hyde Park, the world's most expensive residential complex.
The last five newly completed sales in the past three months were all originating from Asia.
The latest two- and three-bedroom apartments were sold to Chinese, Taiwanese, Japanese, Thai and Malaysian buyers, with Asian buyers now accounting for over 30% of the total sales at the development to date. A four-bedroom apartment also sold to a Kazakhstan buyer this month for over £25 million, leaving fewer than seven of the high-profile apartments remaining for sale, according to Savills.
Candy & Candy was the development manager and interior designer for One Hyde Park gaining international recognition for its bespoke and innovative design.
Looking at the Asian buying market in Sydney, Tony Leong, who heads up the China desk at Savills NSW, commented that Asian interest in residential property within the Sydney metropolitan area was at "an all-time high."
“There are many reasons for buying in Australia but the three main profiles are the buyers who are looking for properties so that their children can study here, so they might buy a property when the child is very young with a long term view or they might buy something only for the time that their child is studying.
"There are also buyers who are looking to migrate here so they will look for a property as their home and finally there are the investors who will be buying more than one property," he says,
According to research by Savills UK, Chinese and Pacific Asian buyers are now the fourth largest net purchasing group in the world, with a 31% market share in the new build sector alone.
Ned Baring, director at Savills, commented: “One Hyde Park is the ultimate address for London luxury, and it is not surprising that the last five sales have been to buyers from Asia. The appeal of London remains exceptionally strong to buyers from China and Pacific-Asia, who typically look for new build properties as reflected by their strong market share in this sector.”
The extensive amenities and facilities available exclusively to residents at One Hyde Park include a private cinema, 21-metre ozone swimming pool, entertainment room, private spa, state-of-the-art gym, golf simulator, underground valet parking, personal wine storage and squash court.
The development is owned by Project Grande (Guernsey) Limited – a joint venture consortium between Guernsey-based development company CPC Group and Waterknights (owned by the Prime Minister of Qatar, His Excellency, Sheik Hamad bin Jassim bin Jabr Al-Thani).
As well as the prime location and award-winning design, the partnership with the neighbouring Mandarin Oriental Hotel Group has appealed greatly to Asian buyers, who are familiar with the high standards and service that the Mandarin Oriental brand is famous for. Residents have access to the hotel’s unsurpassed amenities and services including 24-hour concierge and room service, housekeeping and valet services, and gourmet cuisine from Heston Blumenthal and Daniel Boulud.