Abu Dhabi bank snaps up last One Hyde Park unit
Sunday 28 November 2010
The Abu Dhabi Islamic Bank is to pay a record rent for the final retail unit at One Hyde Park, the luxury Knightsbridge development managed by the Candy brothers in London.
The luxury residential and retail development claims to include Britain's most expensive flat, at £140m, and has attracted the interest of wealthy overseas tenants, particularly from the Gulf and Russia. It is thought that the Abu Dhabi group outbid other Middle Eastern banks as well as upmarket fashion retailers to bag the final 3,000sqft unit at street level – paying more than the area's current record of £550 per square foot.
Abu Dhabi Islamic Bank, which was advised by agent CB Richard Ellis, joins luxury watch maker Rolex and McLaren's car showroom in the retail units, for which Nash Bond and Cushman & Wakefield are the leasing agents.
The Middle East has also invested heavily in upmarket Brompton Road, also in Knightsbridge, with a raft of top retailers and designer brands set to move in. It is thought that the US sports brand Nike is eyeing a shop currently occupied by fashion chain Monsoon, with bidders lining up to pay "key money" of around half a million pounds.
In the summer, Top Shop moved into the less-smart northern end of Brompton Road, and has acted as a magnet there for other fashion retailers, such as US-based Guess.
- 1 Woman and two children killed by mob in riots over 'blasphemous' Facebook post in Pakistan
- 2 The secret report that helps Israelis to hide facts
- 3 Danish TV reporter is all business up top, all party down below
- 4 Ross Burden dead: MasterChef and Ready Steady Cook star, dies aged 45
- 5 Businessman charged £75 for three small bottles of water in London hotel
The secret report that helps Israelis to hide facts
A day in the life of Vladimir Putin: The dictator in his labyrinth
Were 'Poor Doors' added to mixed developments so wealthy residents don't have to go in alongside social housing tenants?
A new Russian revolution: The cracks are starting to appear in Putin’s Kremlin power bloc
Arizona execution lasts two hours as killer Joseph Wood left 'snorting and gasping' for air
Opponents of Israel's military operation in Gaza are the real enemies of Middle Eastern peace
iJobs Money & Business
Data Governance Manager (Solvency II) – Contract – Up to £450 daily rate, 6 month (may go Permanent)
£350 - £450 Per Day: Clearwater People Solutions Ltd: We are currently looking...
£500 - £560 per day: Orgtel: Java Developer FX - Banking - London - Up to £560...
£350 - £400 per day + competitive: Orgtel: My client, a leading bank, is curre...
£26000 - £30000 per annum + Benefits: Ashdown Group: Account Manager - (Produc...