Following on from our article on the World’s most expensive house, we continue on our theme as a London flat sets a new British record for the most expensive flat. A penthouse in a luxury development in the heart of the country’s capital has sold for £12 million.

So what do you get for your money? Built on the site of the old Bowater House which formed an arched gateway from Sloane Square into Hyde park, you get 20,000 square feet with commanding views over Hyde Park and central London, although the complex isn’t expected to be fully complete until 2009.

At a staggering £4,200 per square foot, the price-tag is much higher than other desirable areas of London such as Chelsea or Kensington, where top properties attract a paltry £3,000 per square foot.

However, you will be in good company with Kylie having two flats near by, and Harrods just around the corner. With London prices still soaring, the owner will probably still make a tidy profit if they choose to sell up in future years.

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