This A$312m London Penthouse could be yours – Bitcoin and Ethereum accepted

Fancy sharing?

Overlooking Hyde Park in the sought-after Knightsbridge district in London, this expansive penthouse at the One Hyde project could be yours for £175m (roughly A$312 million), according to a source with knowledge of the matter.

Billionaire owner Nick Candy told Bloomberg that offers in Bitcoin and Ethereum will be considered as cryptocurrencies are a “big opportunity”, according to Candy, who said that the apartment is a “a world-class real estate asset in the heart of London that will continue to perform as a solid investment for years to come.”

He declined to comment on the price he is seeking when asked by Bloomberg.

Holly Valance & Nick Candy 2019
The Master Bedroom. Image: Bloomberg

The luxury penthouse is split over two levels and enjoys five-bedrooms and clocks in at 18,000 square feet.

It includes a wine room for 750 bottles, champagne room, private spa, gym, media room, four car parking bays, wrap-around terraces and even a cocktail bar.

The property has reportedly received multiple offers from buyers in Hone Kong, China and the United States.

According to a filing to the Land Registry, the penthouse was refinanced with a loan from Credit Suisse Group AG in 2018 when the bank valued the property at £160million (roughly $A285.2 million).

The penthouse overlooks Hyde Park. Image: Bloomberg

London’s luxury market on top of the world

The offers come off the back of the most active month in the UK property market for ten years in March 2021, and prime luxury areas of London were no exceptions, according to Knight Frank’s Prime London Sales Report for March 2021.

“The UK property market sprang into life in March as the country began to unlock and the Covid-19 vaccine reached more people,” Knight Frank Head of UK Residential Research Tom Bill said. “Prime London markets benefitted from this same effect but the full force of the demand that has built up over the last year will only be felt once international travel restrictions are relaxed.”

Last month, prime central and outer London transactions was at the highest it has been since March 2016, however prices were down 3.5 per cent and 1.4 per cent respectively.

However the prime market is still sitting pretty, as London took the title of largest super-prime market on the globe, according to Knight Frank, with US$3.7 billion (approximately $A4.7 billion) transacted across 201 sales in 2020.

“Domestic buyers accounted for a third of all activity in London’s £10 million ($A17.8 million) plus market, up from 12 per cent a year earlier,” Knight Frank Associate Flora Harley said. “European buyers were also more prevalent due to the relative ease with which they could reach the city.”

Knight Frank reported the ulta-prime – properties above US$25 million (around $A32.3) – market was less active, but London still held the title as the largest market with 31 sales in 2020.

“Whilst this is two fewer than 2019, the total volume in this segment grew by five per cent, largely due to some big sales at the top end,” Harley said.

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