Suneil Setiya Eyeing London Penthouse for $ 153 million


Suneil Setiya and One Hyde Park (photos via Wikipedia Commons / Rob Deutscher and Synergos)

Suneil Setiya and One Hyde Park (photos via Wikipedia Commons / Rob Deutscher and Synergos)

The billionaire hedge fund Suneil Setiya is reportedly negotiating the purchase of a massive London shelter for about $ 153 million.

The 14,000-square-foot unit, viewed by Quadrature Capital founder, is located in a luxury residential complex known as One Hyde Park, according to Bloomberg. The unit has no internal walls and is completely unfinished, so its price drops even more. The deal would be one of the most practical sales of residential real estate in the UK and the fourth largest, which according to the report would close more than £ 100 million in the last year.

Billionaire Cheung Chung Kiu spent £ 210 million massive assets in Hyde Park early last year. And in November, an unknown buyer spent it £ 147 million on three units in Grosvenor Square No. 1, the former US Embassy in the city.

The potential seller of the One Hyde Park property is Hasan Ismaik, former CEO of the Dubai construction company Arabtec Holdings. Arabtec went into liquidation last year.

One Hyde Park sits opposite Knightsbridge Park. Developed by CPC Group Christian Candy and a company controlled by former Qatari Prime Minister Sheikh Hamad bin Jasim bin Jaber Al Thani, it was completed in 2009. There are 86 housing units and three retail outlets.

Candy’s brother Nick also owns a shelter in the complex, which is worth £ 160 million.

Overall, London house prices are constantly ticking. The average house price in the city rose by almost 10 percent between November 2019 and November 2020 to approximately £ 514,000, which is just over $ 700,000. Demand was also high during the real estate pandemic in suburban and rural areas that offer space and privacy.

[Bloomberg] – Dennis Lynch

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