The Grand Penthouse penthouse at the Mandarin Oriental Residences luxury complex now has an owner. The 650 square meter duplex has been sold for more than 40 million euros to an international individual, industry sources confirm. The operation, recently closed, has broken a double record: the most expensive penthouse sold in Spain and the highest average price per square meter.
The characteristics and location of this apartment explain the unprecedented value it has achieved in the market. It is a property located in one of the most exclusive areas of Barcelona, ??at the confluence of Paseo de Gràcia with Avenida Diagonal, in the old Deutsche Bank Tower. The building was courted to install a Four Seasons hotel, but the Barcelona City Council’s hotel moratorium buried this initiative. Finally, the KKH investment group changed the project: a luxury residential complex.
The Mandarin Oriental Residences has been developed by KKH and has 30 apartments and four penthouses. The latter are located on floors 17, 18, 19 and 20. Of the three one-floor penthouses, two have been sold. In total, the building has 20 floors and a height of 75 meters. The investment in the project has amounted to 160 million euros, an amount that KKH expects to recover comfortably with the sale of the homes, with between one and four rooms and with a surface area of ??120 square meters or more.
The Spanish architect Carlos Ferrater, winner of the National Architecture Award, was in charge of the building’s design, while the interior design was the work of the London studio Muza Lab. Another point that explains the high price paid for the duplex penthouse is in the benefits available to the residents of the property.
The complex has fitness and wellness areas, a large library lounge, private meeting rooms and direct access to a panoramic roof garden, with chill-out areas and a private swimming pool, which are looked after by a team of more than 20 workers. In other words, it offers services comparable to a five-star luxury hotel.
Likewise, residents also have priority access to the facilities and services of the Mandarin Oriental hotel, a few meters from the building, including the Moments restaurant (one Michelin star) and the spa. It is all these characteristics that have led to the fact that the square meter of the duplex penthouse has been paid for more than 61,000 euros.