T here was much fanfare when the first apartments went on sale at One Hyde Park in London in 2007. Costing up to £140 million, these ultra-luxury flats in Knightsbridge were some of the most expensive homes in the world. Shortly after they sold, however, the lights went out.
The address became a symbol of a new kind of international wealth, one that parked its cash in glass boxes in the sky and hid its face behind shadowy corporations based overseas. These luxury towers became glorified savings accounts that delivered an average return of 133 per cent on investment over 20 years. The fear is that the same fate could await Labour’s promised 1.
5 million homes , despite the government’s claims to the contrary. In the.
