One Hyde Park: The Residences of Mandarin Oriental, London, was constructed in four years after obtaining planning permission in 2006, with the finished development housing three commercial units: Rolex, McLaren Automotive and Abu Dhabi Islamic Bank.
[19] Since the development opened, apartments at the complex have been purchased by the superrich, including Viktor Kharitonin, a Russian billionaire and business partner of Roman Abramovich, Ukrainian oligarch Rinat Akhmetov, who bought a triplex penthouse in 2010 for £136 million, Anar Aitzhanova, a Kazakh singer whose husband was shot dead in 2004, and Ekaterina Fedun, the daughter of Russian billionaire and Lukoil shareholder Leonid Fedun.
[21][22] On 18 June 2022, The Telegraph reported that Alexander Ponomarenko, a sanctioned Russian oligarch accused of purchasing a palace on behalf of President Vladimir Putin, is the owner of an apartment at One Hyde Park valued at £60 million.
[24] In February 2007, the brothers applied to Westminster City Council for planning permission to redevelop the 1.2 hectare (3 acre) site into a mixed use development of several hundred new residential units and office space.
[27] Planning permission for NoHo Square was granted in November 2007; however, the completion of demolition of the hospital in 2008 coincided with the collapse of Kaupthing as a result of the 2007-2008 global financial crisis.
[28] Kaupthing was the largest shareholder in the Guernsey-based consortium which bought the Middlesex site from University College Hospital in 2006, and with the bank in administration, the NoHo Square development stalled.
Victor Bardack of the Beverly Hills North Homeowners Association said: "To put two huge projects on the already-impacted intersection of Santa Monica and Wilshire boulevards is grossly detrimental to the community,[...] It'll be gridlock forever.
In the same month, the situation was made worse when the acquisition loan to the project from Credit Suisse became past due, and, additionally, it became increasingly difficult to get financing on the 250 condominiums that the original plans catered for.