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CPC Sells One Hyde Park Penthouse With $295 Million Valuation

May 2 (Bloomberg) -- A penthouse in London’s One Hyde Park luxury apartment complex valued at as much as 175 million pounds ($296 million) was sold by Christian Candy’s CPC Group Ltd.

The 16,000 square foot (1,486 square meter) duplex penthouse D was valued independently at 160 million pounds to 175 million pounds, CPC said today in an e-mailed statement. The buyer and selling price weren’t disclosed.

A sale at that price would value the property at more than 10,000 pounds per square foot, a U.K. record, Oliver Hooper, director of broker Huntly Hooper Ltd. said by phone. The previous record was 9,000 pounds a square foot paid for a London mansion, he said.

London luxury-home values have soared since 2009 as the world’s wealthy sought safe assets. CPC has sold properties worth more than 2 billion pounds since One Hyde Park opened in 2011, according to the statement. The apartment complex is located in Knightsbridge, home to Harrods department store, Royal Albert Hall and the five-star Berkeley hotel.

To contact the reporter on this story: Patrick Gower in London at pgower@bloomberg.net

To contact the editors responsible for this story: Ross Larsen at rlarsen2@bloomberg.net Jeffrey St.Onge

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