Britain's most expensive flat goes on sale for £10m

Britain's most expensive one-bedroom flat has gone on the market for £10 million.

The luxury property at One Hyde Park has been dubbed the "ultimate pied-a-terre" and is so pricey that a simple waste bin takes up £6,300 worth of space.

But there will be no room for guests at the property, which is regarded as the finest one-bedroom home in the world's most expensive apartment block.

The lower level of the duplex apartment is the sleeping area and boasts a huge double bedroom with en-suite bathroom.

Upstairs is for socialising, with the area dominated by an open-plan living and dining room. There is also a separate toilet.

The one-bedroom apartment, in Knightsbridge, has now been put on the market for £9.9 million - 56 times the average house price in England and Wales.

It works out at £6,300 per square foot and is £4.3 million more than the next most expensive one-bedroom property in the capital.

And while large properties have sold for this £ per sq/ft price before, figures from LonRes, which tracks the property market, has a top one-bedroom price of £5,035 per sq/ft.

The kitchen, which measures a modest 12ft 11in x 8 ft 10in, takes up around £700,000 of space - the same as a large family home in most cities.

^{An example of a kitchen at One Hyde Park}

And whoever buys the flat will put a big smile on George Osborne's face as they hand over £1.1 million in stamp duty.

They also have to pay £2,000 per year in ground rent along with a £32,000 annual service charge.

One Hyde Park was designed by Richard Rogers at Rogers, Stirk, Harbour and Partners.

It opened in 2009 and is made up of 86 apartments with the interior designed by Candy and Candy.

Residents get 24-hour SAS-trained security, an in-house maid service, same day laundry and dry cleaning, room service from the Mandarin hotel and a private temperature controlled wine store.

The development also has "unmatched leisure and entertainment facilities" which includes a private spa, 21-metre swimming pool, sauna, steam room, squash court and cinema.

^{One Hyde Park's private 18-seater cinema with reclining seats}

^{A lobby at One Hyde Park}

Simon Barnes, an independent property consultant, has been inside One Hyde Park and deals in the super-prime market.

He said: "It is an amazing place and is not be like buying a one-bedroom flat.

"It is a very modern, high quality build, you have the Mandarin next door and the ultimate concierge.

"The sort of person who will look at it is likely to be the sort of person who spends a lot of time in a hotel.

"But for £10 million you could get quite a few nights in the finest hotel suite.

"The bar in residential development keeps being raised. What you lack in London are the locations to build on which is why they can charge such a price at One Hyde Park.

"Will the quality of developments improve? Yes, but it is highly unlikely you find a better location."

^{A bathroom in the One Hyde Park development}

A number of homes like this are bought by people to show off, according to Henry Pryor, a buying agent.

He said: "They see these sort of homes as they do an expensive watch or a supercar.

"For them, the value with the bragging rights to their friends or impressionable girlfriend is often much more than the price."

The duplex apartment is on the market with Strutt & Parker's Knightsbridge office and also benefits from an underground parking space.

^{A typical bedroom at One Hyde Park}

James Gilbert-Green, a partner at the estate agency, said: "One Hyde Park is commonly regarded as the best new residential building in London, if not the world."

The most expensive apartment to sell in One Hyde Park was a penthouse, which was bought for £140 million last year.