The western Chinese property magnate Cheung Chung-kiu has agreed to buy a Knightsbridge mansion for more than ￡200m, in a house price record for the UK capital.
The family office of Mr Cheung, whose company CC Land owns London’s “Cheesegrater” skyscraper, is in the process of buying 2-8a Rutland Gate overlooking Hyde Park — providing a boost for a luxury property market that has spent four years in the doldrums.
The 1830s building with 45 bedrooms may be renovated as an apartment block, which could be worth up to ￡700m, or retained as a single private residence, the family office said.
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