Ashurst advises developers of world’s dearest apartment

Ashurst advises developers of world’s dearest apartment” />Ashurst has advised new clients Manresa Developments and Candy and Candy on the sale of the most expensive apartment in the world.
The former global head of global exchange at Citigroup Julian Simmonds – the man behind Manresa – bought the Manresa Road premises from Formula One driver Bernie Eccleston. Simmonds brought in Ashurst after the initial purchase of the premises, with a contact at planning consultancy Montague Evans recommending real estate partner Martin Wright for the work.

The developers are already set to exchange on the first 17,000sq ft flat, which will be sold for the princely sum of £27m – a price that easily outstrips the previous highest sum paid for an apartment of $45m (£25.4m).

The flat is one of 15 apartments and one house being developed on a 122,000sq ft former King’s College premises at 21 Manresa Road in Chelsea.

While the property could have housed up to almost 100 flats, Simmonds decided he wanted to build at the very top end of the market. “He wanted to build eight-star accommodation,” said Wright.

Clifford Chance advised contractor Multiplex on the development.