Ukrainian tycoon buys UK's most expensive flat: reports

19th April 2011, Comments 0 comments

Ukraine's richest man has set a new record for property in Britain, spending £136.6 million (155 million euros, $223 million) on two London flats, media reports said Tuesday.

The flats cover 25,000 square feet (2,323 square metres) across three floors of a luxury development overlooking Hyde Park, and have been bought by Rinat Akhmetov, 44, the reports said citing Land Registry documents.

The oligarch plans to knock them together to make a penthouse and is intending to spend a further £60 million on refurbishing the interior, according to the Evening Standard newspaper in London.

Akhmetov's company System Capital Management, a conglomerate whose interests range from mining and metals to banking and the media, confirmed it had bought a property in the development in Knightsbridge, named One Hyde Park.

"SCM bought the property in London at the One Hyde Park residential development in 2007 as a portfolio investment," it said in a statement, adding that it had agreed with the developers not to release further details.

The US magazine Forbes estimated Akhmetov's worth at $16 billion.

One Hyde Park have been dubbed the world's most expensive apartments, and were the brainchild of self-styled developers-to-the-rich Nick and Christian Candy. More than half of the 80 apartments have so far been sold, reports say.

© 2011 AFP

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