By Max Clarke
London’s most expensive flats, atop the £1.15 billion One Hyde Park development in Knightsbridge, have been bought by Ukraine’s System Capital Management as a ‘portfolio investment’ for a purported £136 million.
Owned by Ukraine’s most wealthy oligarch, Rinat Akhmetov, Systems Capital Management (SCM) is multifaceted, international business empire with interests in mining, finance, media and, since 2006, property.
While SCM refused to comment on the scale of the investment, the Land Registry- quoted in the Telegraph- put the figure at £136 million, making it the biggest sum ever paid in the UK for an apartment.
The conglomerate released the following statement:
SCM bought the property in London at the One Hyde Park residential development in 2007 as a portfolio investment. Over the past four years the asset showed a steady annual 5% rise in the value even during the global financial crisis when the real estate was losing value everywhere in the world including Ukraine. Experts suggest that the asset will increase in value over the next few years. SCM believes that the investment in the London property has been very successful and views the policy of diversifying the real estate portfolio as effective.