Oracle Capital Group, a multi-family office serving Eastern European clients in the UK, has teamed up with North London development specialists Harrison Varma to build a luxury apartment block in the capital’s Hampstead area, according to primeresi, a website covering the prime residential sector.

The building, containing seven apartments from 3,000 to 6,000 square feet, costing between £5 million (nearly $8 million) and £8.45 million, began to be constructed in 2010.

The multi-family-office did not respond to requests for comment from WealthBriefing at the time of going to press.

Three – including the penthouse – of the seven apartments have already been snapped-up off-plan by Eastern European buyers, the report said.

“Eastern European high net worth individuals tend to be in the market for the kinds of properties they are used to in their native countries – they expect spacious interiors, high ceilings, panoramic views, central locations with access to top private schools, green space and high security and concierge services,” a spokesperson was quoted as saying.

Earlier last week, the Oracle Capital Group appointed Martin Graham as the chairman of its new advisory board which has been formed to help steer the group through its next stage of growth and expansion into new markets. He is already a member of Oracle Capital Group’s management board. Between 2003 and 2009 Graham was director of markets and chairman of AIM at the London Stock Exchange.