London Opinion: One Hyde Park

One Hyde Park is rather notorious. Not because of anything that happens in the ultra-expensive apartments there. It is more because nothing does happen there. Err … almost nothing. About the only thing that is happening is offshoring large amounts of cash. From the Guardian

London’s most expensive block, where flats go for up to £140m apiece, it juts out of Knightsbridge. Qatari money paid for its building. Russians, Kazakhs, and Ukrainians have bought apartments there – although how many of them live there is up for debate. A 2011 investigation by our sister paper the Observer revealed that only nine of the 62 homes then sold in the block were registered for council tax – and five of those were paying the half-price reduced levy for second homes. The following year, journalists at the Guardian found that 80% of the residences had been bought by offshore firms based in the British Virgin Islands.

What do you think? are developments like these beyond the pale?`here is what you see from the street


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