A flat overlooking Hyde Park has been bought for more than £140 million by an anonymous billionaire.
It is thought to be the record for a flat in Britain.
The mystery bidder, thought to be from Ukraine or Russia, will be pleased to learn that the value of the property, at One Hyde Park in Knightsbridge, is expected to rise to up to £175 million or £10,000 per square foot, The Times (£) reported.
Property developers claim up to £20 million will have to be spent renovating 'Penthouse D' on top of the £21 million the owner will have to pay in stamp duty.
Luxury property developer Christian Candy, of CPC Group, confirmed the sale in a statement but was not able to confirm the final price or the identity of the new owner.
A statement said: "CPC Group can confirm that a 16,000 sq/ft duplex penthouse (Penthouse D) at One Hyde Park was recently sold," he said.
"CPC Group is not able to comment on the sale price or the purchaser. However global professional valuation companies have valued the finished penthouse at circa £160-£175 million."