Asians make up 30% of sales at One Hyde Park

LONDON: One Hyde Park in Knightsbridge, London’s most prestigious residential development, has achieved another record sales run with five recently completed sales within the last three months, all by Asian buyers.

One Hyde Park is arguably one of the most expensive apartment buildings in the world with units fetching up to £11,000 (RM53,392) psf. With the total value of the apartments sold standing at over  £1.7 billion, the project has attracted buyers of over 25 nationalities.

Asian buyers accounted for over 30% of the total sales at the development to date with Chinese, Taiwanese, Japanese, Thai and Malaysian buyers taking up the two- and three-bedroom apartments that were sold recently. A Kazakhstan buyer also bought a four-bedroom apartment this month for over £25 million, leaving fewer than seven apartments for sale, according to global real estate service provider Savills.

The renowned Candy & Candy was its  development manager and interior designer. Besides its prime location and award-winning design, One Hyde Park’s partnership with the neighbouring Mandarin Oriental Hotel Group has attracted Asian buyers who are familiar with the high standards the brand is famous for, said Savills.

Residents of One Hyde Park have access to Mandarin Oriental’s services including its 24-hour concierge and room service, housekeeping and valet services, as well as gourmet cuisine from Heston Blumenthal and Daniel Boulud. The amenities and facilities available exclusively to residents of One Hyde Park include a private cinema, 21m ozone swimming

The fully furnished 54 sq m Bliss design carries a price of 1.38 million baht.

pool, entertainment room, private spa, state-of-the-art gym, golf simulator, underground valet parking, personal wine storage and squash court.

According to research by Savills, Chinese and Asia-Pacific buyers now make up the fourth largest net purchasing group in the world with a 31% market share in the new build sector alone.

Rupert des Forges, a partner at Knight Frank, said One Hyde Park’s association with the Mandarin Oriental brand amplifies its appeal to the Asian purchaser attracted to new developments with a high level of service and amenities.

“The tiger economies of the East are continuing to invest in product of this calibre — especially if located in London with its safe haven reputation,” he said.

The development is owned by Project Grande (Guernsey) Ltd — a joint venture consortium between Guernsey-based development company, CPC Group, and Waterknights (owned by the Prime Minister of Qatar, Sheik Hamad bin Jassim bin Jabr Al-Thani).


This article first appeared in The Edge Financial Daily, on Nov 16, 2012.