Luxury names sign for One Hyde Park

OPULENT brands Rolex and Chanel are on the verge of signing a deal to take the final two shops at One Hyde Park, the £1bn London development by Nick and Christian Candy.

British watchmaker Rolex is believed to have signed for the second retail space in the development, which is slated as London’s most expensive residential complex.

Parisian fashion house Chanel is also on the verge of signing a lease for the third and final spot in the luxurious development.

Seven other possible tenants were reportedly in talks with the Candy Brothers over leasing the retail lots, though the two brands are thought to have secured a deal according to reports yesterday.

The pair join high-performance car manufacturer McLaren, which snapped-up the first of the three retail lots at the Knightsbridge development for its new flagship showroom in August.

The Formula 1 racing giant will open at the Hyde Park site in time for the launch of its new McLaren MP4-12C next spring, the first in the Woking-based company’s new range of high-performance sports cars.

The development combines residential and retail properties, including 86 apartments starting at around £20m each. A penthouse in the complex was sold for a record-breaking £140m in August, making it the most expensive residential property in Britain.

The glamorous complex is designed by Lord Rogers’ firm Rogers Stirk Harbour and Partners and features four futuristic pavilions, interlinked by lobbies, lift shafts and stairwells, and looks out over Hyde Park’s famous Serpentine lake.

Private lifts in the apartments will contain eye scanners to keep outsiders from accessing residential floors, and the building has been constructed from as many as 15 types of stone from as far away as Egypt and China.

The Candy brothers are also known for their bid to redevelop the Chelsea Barracks. The bid collapsed after the Prince of Wales allegedly raised architectural objections with their Qatari partners.