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Luxury Apartment Located Within Prime London Location Has Been Sold For $95 Million

14 February 2012

The last of 11 five-bedroom apartments that are on the market for values of £60 million or $95.4 million have recently been sold by the world’s most expensive real estate development which happens to be part-owned by the Prime Minister of Qatar.

The five-bedroom apartments which each have a floor area of nearly 9,000 square feet are the largest units found at London’s One Hyde Park after the penthouse properties of the building.

A joint venture owned by Project Grande Guernsey Limited is behind the exclusive project which includes Waterknights which is owned by Qatar Prime Minister Sheikh Hamad bin Jassim bin Jabr Al-Thani. So far, the project has been successfully able to generate more than £1.5 billion worth of sales.

The final retail unit that is being let to the Abu Dhabi Islamic Bank has yet to be placed for sale on the market.

Offer invitations being made are running for sums that exceed £21 million. The real estate property is being let for another 14 years at a rental rate of £800,000 each year. Adjacent stores which were being let to Rolex and McLaren have also been sold.

Given the current situation, greater interest in the asset can be expected due to factors such as long occupational lease, superb terms of agreement, and excellent reviews. After all, such factors are exactly what investors are looking for in this day and age.

More than £100 million worth of sales has been achieved by the develop at One Hyde Park in 2012 while more than £1.5 billion worth of sales have already been completed which makes it the most successful residential real estate development project to have been carried out within London.

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