Billionaire Businessman Pays £46 Million For London Flat

Tycoon Telis Mistakidis, head of copper at mining giant Glencore, has paid more than £46 million for a flat in the capital.

The swiss- based businessman, 53, purchased the property at Chesham Place in Belgravia personally rather than via a business deal. On top of the asking price of £3.2 million, Mr Mistakidis paid £3.2 million in stamp duty. However the stamp duty bill could have been £2.2 million more: the mining mogul –  one of the top 50 richest men in Britain – bought the Belgravia bolthole before the stamp duty system was reformed by Chancellor George Osborne in his Autumn statement.

Designed by Candy & Candy, the 7,900sqft duplex boasts a master bedroom suite, four guest bedrooms, two underground car parking spaces, staff quarters, a spacious living area and a 24 hour concierge. Simon Barnes, a high end property consultant, declared the Chesham Place property to be “phenomenal.”

“You’re not just talking about a flat in Belgravia. Candy and Candy have done a fantastic job – the presentation and finish is very good. It ticks all boxes and you couldn’t replicate it.”

The Candy brothers Christian and Nick – who is married to pop star and former Strictly contestant Holly Valance – were responsible for the interior design of the block. The exterior of the former telephone exchange (which was bought by Christian Candy’s company for £13 million in 2005) has been redesigned by Lord Norman Foster.

At a price of £5,800 per sq/ft, the sale of the Chesham Place duplex is a record for Belgravia but a drop in the ocean when compared to mega deals in other parts of the capital. Case in point? A mansion – No 18 Carlton House Terrace – close to Buckingham Palace, was sold for £250 million in 2013.