Advertisement

  1. ITV Report

Two apartments snapped up for £25million in biggest Knightsbridge sale for more than two years

An ultra-wealthy sheikh has bought two apartments worth £25million near Harrods - the highest value flat sale in Knightsbridge for more than two years.

Five-bedroom flat located on the corner of Cadogan Square

The family from the Sultanate of Oman have snapped up two period properties.

The first is a 6,000 sq ft five-bedroom flat located on the corner of Cadogan Square priced at £17million, where the Sheikh and his immediate family will live.

Inside the four bedroom flat on Parkside, overlooking Hyde Park

The second is a 2,400 sq ft four-bedroom £8million flat on Parkside, overlooking Hyde Park, intended for extended family, overnight guests and staff quarters.

Together the deal achieved more than £3,200 per square foot - the highest price secured for second-hand flats in period buildings in the area for more than two years.

Inside the four bedroom flat on Parkside, overlooking Hyde Park

Marylebone-based estate agent Rockstone, which deals exclusively in Belgravia and Knightsbridge, handled the sale.

Managing Director Becky Fatemi, whose family once worked for the Shah of Iran, is a renowned expert on Iranian, Qatari, Saudi and Omani clients.

Inside the four bedroom flat on Parkside, overlooking Hyde Park

The sales prove that London remains a leading location of choice for the super-rich.

– Becky Fatemi, Rockstone estate agent
Inside the four bedroom flat on Parkside, overlooking Hyde Park

Demand for homes in this price range is extremely weak among UK and Continental European buyers, with French, English and Italian customers often looking to let rather than buy.

For a deal to progress smoothly wealthy buyers want hotel-style homes that are interior designed and dressed, so that buyers can move in immediately without any hassle or the need to find furniture or accessories.

Undressed, tired or shabby property just won't sell in the current market.

– Becky Fatemi, Rockstone estate agent