02/05/2014 05:42 BST | Updated 02/05/2014 06:59 BST

World's Most Expensive Flat, In London's One Hyde Park, Sold For £140m

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LONDON, ENGLAND - JANUARY 19: A bus drives past One Hyde Park in Knightsbridge on January 19, 2011 in London, England. Today saw the official unveiling of the exclusive residential apartments by property duo, the Candy Brothers. With views over London's famous Hyde Park and interiors designed by the Candy Brothers, the address is set to become the world’s most expensive with apartment prices ranging from £6.5M GBP for a one bedroom apartment to £140M GBP for a penthouse suite. Included in t

A London penthouse has become the world's most expensive flat after being sold for a record £140 million.

Penthouse D at London's exclusive One Hyde Park, which overlooks the capital's Royal Park, was sold to an Eastern European buyer, thought to be either Russian or Ukranian, according to the Times.

The newspaper reported that the sale by Christian Candy's CPC group could see the flat's value rise to £175 million, or more than £10,000 per square foot.

CPC confirmed that it had sold the penthouse apartment but did not reveal the sale price or buyer.

The living room of one of One Hyde Park's penthouses

A spokeswoman said: "CPC Group can confirm that a 16,000 sq ft duplex Penthouse (Penthouse D) at One Hyde Park was recently sold.

"CPC Group is not able to comment on the sale price or the purchaser. However, global professional valuation companies have valued the finished penthouse at circa £160 million-£175 million."

She added that buyers at the development on the south side of Hyde Park in Knightsbridge has "seen significant uplift in the capital value of apartments since the scheme officially launched in 2011".

The development consists of 80 flats in four pavilions in a prime location in the capital with views across the city and Hyde Park. It was designed by architect Richard Rogers, with management and interior design by Candy & Candy.

A One Hyde Park penthouse reception room

Nick and Christian Candy bought the Knightsbridge site of the former 1950s office block Bowater House in 2004 for £150 million.

They developed the site alongside Waterknights, the private company of the former prime minister of Qatar, Sheik Hamad bin Jassim bin Jabr Al-Thani.

The sale comes as Nationwide reported yesterday that house prices leapt by 10.9% year on year in April, marking the first time in four years that annual growth in values has reached double figures.

Property prices across the UK lifted by 1.2% on the previous month to reach £183,577 on average, increasing the risk that people will have to stretch their mortgage borrowing, the building society said.

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