An ultra-wealthy sheikh has bought two apartments worth £25million next to Harrods – the highest value flat sale in Knightsbridge for more than two years.
The family from the Sultanate of Oman have snapped up two period properties so they can be within walking distance of the world-famous department store.
Both flats, which are refurbished and dressed to the highest standard, are located in grand period buildings a 10-minute walk from each other.
The first is a 6,000 sq ft five-bedroom flat located on the corner of Cadogan Square priced at £17million, where the Sheikh and his immediate family will live.
The second is a 2,400 sq ft four-bedroom £8million flat on Parkside, overlooking Hyde Park, intended for extended family, overnight guests and staff quarters.
Together the deal achieved more than £3,200 per square foot – the highest price secured for second-hand flats in period buildings in the area for more than two years.
Marylebone-based estate agent Rockstone, which deals exclusively in Belgravia and Knightsbridge, handled the sale.
Managing Director Becky Fatemi, whose aristocratic Iranian family once worked for the Shah of Iran, is a renowned expert on Iranian, Qatari, Saudi and Omani clients.
She said: “The sales prove that London remains a leading location of choice for the super-rich.”
London properties priced above £5million in London are mainly bought up by Asian, Gulf and African customers.
Top buyers come from Nigeria, Oman, Saudi Arabia, UAE, Iran, Turkey, Singapore, Japan, Hong Kong and China.
Demand for homes in this price range is extremely weak among UK and Continental European buyers, with French, English and Italian customers often looking to let rather than buy, she said.
She added: “For a deal to progress smoothly wealthy buyers want hotel-style homes that are interior designed and dressed, so that buyers can move in immediately without any hassle or the need to find furniture or accessories.
“Undressed, tired or shabby property just won’t sell in the current market.”