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23/04/2011 - London, UK: One Hyde Park property sells for US$225 million to World’s 4th richest man  23/04/2011 - London, UK: One Hyde Park property sells for US$225 million to World’s 4th richest man

23/04/2011 - London, UK: One Hyde Park property sells for US$225 million to World’s 4th richest man

London, UK: The Ukraine’s richest man, Rinat Akhmetov, has bought what is set to become Britain’s most expensive apartment. According to reports he paid £136 million ($US225 million) for the property at One Hyde Park in Knightsbridge, London.

Although it’s unlikely the forty-four year old self-made billionaire was concerned about the price tag as he’s listed as the worlds’ fourth richest man in the Forbes Rich List 2011. Forbes estimate his total wealth at around £9.7 billion (US$16 billion).

In fact, Akhmetov bought two adjoining properties at One Hyde Park and is having them knocked together to make a single three storey penthouse. He’s also ordered a £60 million (US$100 million) refit.

The sale of the London property makes One Hyde Park potentially the world’s most expensive apartment block.

According to a report by the Financial Times the property was bought in the name of Akhmetov’s holding company System Capital Management.

The son of a former coal miner, Akhmetov made his first million trading coal and coke during the 1990s. During this period he forged a strong relationship with the Prime Minister of the time, Viktor Yanukovych. He now serves as a member of parliament representing Yanukovych’s party.

In 2000 the Ukrainian business magnate founded conglomerate System Capital Management which has grown into one of the Ukraine's leading financial and industrial companies. He is also the owner of FC Shakhtar Donetsk and recently spent US$4 billion building the club a new stadium. The 50,000 seater Donbass Arena will host games during the 2012 European Football Championship.

One Hyde Park is located in London’s trendy Knightsbridge district and was designed by Lord Rogers.

The acclaimed architect is famous for his work on the Pompidou Centre in Paris, France; the Lloyd's Building and Millennium Dome in London; and the European Court of Human Rights building in Strasbourg, France.

Unsurprisingly the owners list at One Hyde Park reads like a who’s who of celebrities and business tycoons, although many of their identities are a closely guarded secret due to confidentiality agreements.

I few I can tell you about are; Mohammed Sultan Al Qasimi, head of finance for the government of Sharjah in the United Arab Emirates; Vladmir Kim, a billionaire from Kazakhstan; Ray Grehan, the founder of Irish residential developer Glenkerrin.

However, the most famous buyer revealed to date is Kylie Minogue, who recently purchased a property at One Hyde Park for £15.7 million (US$26 million). If you are interested, you can read more about that here...

Properties at One Hyde Park start at £6.75 million (US$11.2 million), although the majority of the apartments cost between £27 million (US$44.6 million) and £33 million (US$54.5 million).

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