136 million pounds for a flat or 50,000 pounds for a container?

Posted: 11/05/2012

Ok, that’s a lot of money for a flat, any guesses where it may be situated?

As a comparison, to buy a 3.7 acre mansion in Beverly Hills, it would cost you around £58 million. If that doesn’t tickle your fancy, you could purchase a luxury apartment, situated in the Plaza Hotel overlooking Central Park for just over £31 million. The same amount of money could buy you over 1,500 houses in Burnley, which has been named as the cheapest town in Britain with a typical property price of £87,194.

But an anonymous buyer decided to purchase a 25,000 sq ft penthouse in the newly opened One Hyde Park development in Knightbridge, London for £136 million. The penthouse had been converted from two apartments and is equipped with a wine cellar and the occupier has access to the Mandarin Oriental hotel room service. There was a further £60 million spent on the interior of the property as it was sold as an empty shell.

The sellers of this luxury penthouse are Nick and Christian Candy, who have already developed 45 flats that have sold for a total of £963million. Nick Candy spoke to the Guardian and said, ‘No one else has achieved that, not just in London, but anywhere in the world.’ The sale of the penthouse in Knightbridge was agreed last year but the Land Registry has only recently formally documented the sale.

Now, what’s all this about a £50,000 container?

Containers are usually used to transport anything from laptops to lawnmowers on cargo ships but an innovative designer has found another use for these metal giants. Housing!

Yes, from the UK to the US, container communities have proved to be a terrific neighbourhood to become a part of! The thriving Trinity Buoy Wharf in East London consists of a four story high, two container wide living space housing around 70 occupiers. The neighbourhood is situated across the river from the O2 Arena and has proved popular with creative individuals from engineers to musicians. The neighbourhood also boasts an American diner, a restaurant, performance space as well as a small marine that contains Thames clipper boats.

The idea came from the founder of the Urban Space Management, Eric Reynolds, who believes the best way to make an area desirable is to attract artists and that is what his container communities have achieved.

The average rent per month for a container in central London is from £600 to £1,000 compared with £673 per week for a 1 bedroom flat.

The containers are bought from China, shipped to the UK full of goods and then converted into accommodation. The reason why containers are becoming more popular as homes is because you can put them anywhere and they are a lot cheaper than bricks and mortar. A downside to container living is the land you need to keep them on can be expensive, with many land owners becoming greedy due to the increased demand.

Do you think the price paid for the penthouse is phenomenal and you would rather be a part of a creative, colourful container city?

Amanda McGovern, Pali Ltd
www.paliltd.com

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(1) Comments rent, container, penthouse, london, flat

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