SOLD! THE UK’S MOST EXPENSIVE HOME
A penthouse in One Hyde Park, the lavish development in Knightsbridge, has entered the record books as the most expensive residential property in Britain – and, according to some estimates, the world – having been sold for £140m. The six bedroom apartment is spread over two floors with bullet proof glass and a panic room. The new owner will also be able to enjoy the benefits of 24 hour concierge service from the Mandarin Oriental Hotel next door, to which it also has tunnel access.
PRICES UP IN RESIDENTIAL DEVELOPMENT LAND
Figures released by the estate agent Knight Frank suggest an upturn in the market for residential development land, though the company highlights continuing nervousness from funders. According to the latest results from the Knight Frank Residential Development Land Index the price of greenfield and brownfield residential development sites rose by 6.1 per cent and 3.7 per cent in the second quarter, meaning prices for both have gone up by over 20 per cent in the 12 months to June.
SLIGHT RECOVERY FOR BUY-TO-LET
Figures from the Council of Mortgage Lenders point to a slight easing of the pain suffered by the buy-to-let market since the credit crunch. While buy-to-let lending remains extremely slow, the second quarter of 2010 saw the number of buy-to-let mortgages up 13 per cent on the first quarter, with 24,900 mortgages taken out compared to 22,000. The figure was also 15 per cent higher than the second quarter of last year.
RESI 2010 SET FOR NEWPORT NEXT MONTH
No doubt riding high from the record-breaking sale at Candy & Candy’s star development One Hyde Park (see left), Nick Candy will be one of the headline figures appearing next month at RESI 10, the major UK residential property industry conference and exhibition. Senior figures from leading developers, investors and consultancies will also be proffering their views on the market at the conference, which takes place at Celtic Manor Resort in Newport on September 16-17. www.resievent.com