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Business News

City bonuses help Ronson sell 175 luxury flats

A sign that the size of the City's bonus pool is still booming is the sale of 175 luxury apartments at Gerald Ronson's the Heron near the Barbican – despite the flats not being ready until 2013.

Laurence Ronson, Gerald 's brother, who is in charge of the residential scheme, said 60 per cent of the 285 apartments have now sold, with more than 50 per cent going to UK residents and the others being snapped up by business people from Hong Kong, Singapore and Russia.

The luxury flats, bought for between £490,000 and £3.5m, have sold so well that the group is planning to release its even more luxurious "Panoramic collection" – the top 13 apartments of the tower – in the autumn.

Two further multi-million-pound penthouses, currently being designed, will be put up for sale at a later date. The apartment block is separate from Ronson's office and hotel tower – the 46 storey Heron Tower at 110 Bishopsgate – which includes a Four Seasons hotel and apartments.