Record sale at One Hyde Park, Knightbridge

Property portal PrimeResi is reporting that one of the units at One Hyde Park recently changed hands for a record-breaking £160m. This transaction would have attracted around £24m in stamp duty alone.

Completed in 2010, the 86-unit project replaced a 1950s office block called Bowater House, and took four years to build.

The Mandarin Oriental provides the residences with five-star hotel services, including gourmet 24-hour room service, while amenities range from a private cinema, business suite and wine cellars, to a 21m ozone swimming pool, squash court, golf stimulator, and virtual games room.

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Qatari Diar breaks ground at former Mayfair U.S Embassy

Developer Qatari Diar Europe has broken ground at 30 Grosvenor Square – the former site of the historic U.S Embassy.

The site will house London’s second Rosewood hotel in the heart of Mayfair and will comprise 137 guest rooms, five restaurants, six flagship retail units, a spa and a ballroom with space for 1,000 guests.

British architect, Sir David Chipperfield, will has been entrusted with preserving the unique facade of the Grade II listed building whilst at the same time remodelling the interiors with contemporary and luxurious finishes. The expected construction completion date of the property valued at approximately £1 billion is set for 2023.

Work on the site follows the relocation of the U.S Embassy to Nine Elms earlier this year.

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Reuben Brothers in multimillion South Kensington acquisition

Reuben Brothers announced that it has purchased a landmark corner building, Glen House, in South Kensington. The freehold building on 125-133 Old Brompton Road houses a Ferrari showroom on the ground floor and has planning consent for offices & luxury apartments over five upper floors (photomontage above).

1 & 3 Eagle Place, located directly behind Glen House were acquired at the same time, providing two private mews residences.

The freehold project was put up for sale via Michael Elliott last October, with a guide price in excess of £22m.

Reuben Brothers is a real estate and investment firm run by brothers David and Simon Reuben.

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Abramovich reportedly completes on spectacular Chelsea penthouse

Roman Abramovich completed on the purchase of a £30 million penthouse in the capital despite his visa problems, according to a report in the Times. The billionaire owner of Chelsea Football Club is fitting out a 6,000 sq ft residence in the Sir Terry Farrell-designed project on Chelsea’s Lots road.

Earlier this year the steel magnate faced delays to his investor visa renewal amid worsening relations between London and Moscow. He is believed to have withdrawn his application and acquired an Israeli passport, which allows him to make short trips to the UK without a visa.

With floor-to-ceiling windows, this massive penthouse will be making the most of 360-degree views which promises to be one of the very best riverside apartments in London.

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Southwark approves redevelopment of London’s Elephant & Castle site

A controversial scheme to redevelop the sites of the Elephant & Castle Shopping Centre has been approved by Southwark’s planning committee. The committee endorsed the major development scheme by four votes to three, with one abstention, after a lengthy session on Tuesday night.

The redevelopment scheme includes 979 new homes to be constructed on a build-to-rent basis, new premises for the London College of Communication and a new Northern line tube station entrance.

There are more stages to the process before the approval is made final, including sign-off by the Mayor of London, and a Government decision on whether or not the shopping centre should be given listed status.

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