Monday, March 17, 2008

World's most expensive apartment

Britain's property market might be stuck in the doldrums, but plans are under way to build the world's most expensive flat in central London.

Developers have received planning permission to convert a seven-storey 1930s office block in exclusive St James' Square into six flats, with the best apartment set to fetch between £115 million ($225m) and £120 million ($235m).

A source close to the deal told the Sunday Times newspaper the identity of the buyer remained a mystery. "The price has been agreed," the source said. "It is between £115 million and £120 million."

Only basic details of the flat's design have been revealed so far, including plans for large solar panels on the roof, a car lift to take vehicles to the basement parking area and cycle racks.

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