Unfinished $221M Apartment

April 19, 2011 by staff 

Unfinished $221M Apartment, Talk about expensive real estate: a London apartment has been sold for 135.4 pounds milliion, The Telegraph reported today, citing documents of land registration. That’s all to 221 million.

The newspaper said the buyer of the UK’s most expensive flat – “Apartment” to the development of One Hyde Park – had previously bought the pethuse in cash in 2007.

The kicker – the new owner bought the apartment with bare walls and no services and is believed to be spending up to 60 million pounds to complete.

The Telegraph said the buyer is a Ukrainian who used an offshore company called Water Property Holdings to buy the flat, including the three upper floors of the complex, which is next to Knightsbridge.

The complex is the most expensive residential development with almost £ 1 billion in sales of 45 apartments, the newspaper said. He added that almost all the apartments have been purchased through offshore trusts.


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