- -Roman Abramovich quietly sold his huge Central London mansion
- -Dealt at £52 million, well below the £70 million he was seeking last summer
- -Appears to be in the process of dismantling his London property portfolio
- -Will also sell his £30 million riverside property in Cheyne Walk, Chelsea
He might have a fortune estimated at more than £10 billion, but even Roman Abramovich must have winced at taking a staggering £20 million hit on his latest property transaction.
The Russian owner of Chelsea Football Club has quietly sold his huge Central London mansion in Lowndes Square, Knightsbridge, after more than a year of trying to attract a buyer.
A spokesman for Mr Abramovich last night confirmed that he has completed the deal for about £52million – well below the £70 million he was seeking last summer.
The Russian owner of Chelsea Football Club has quietly sold his huge Central London mansion in Lowndes Square, Knightsbridge, after more than a year of trying to attract a buyer
The sale marks a change of direction for the billionaire, who appears to be in the process of dismantling his expensively acquired London property portfolio.
This week he will announce he is selling his £30 million riverside property in Cheyne Walk, Chelsea, even though it is a favourite of girlfriend Daria Zhukova.
The houses appear to be surplus to Mr Abramovich’s requirements now he has acquired a £90 million house in the former Soviet Embassy compound in Kensington Palace Gardens, a street which, aside from its many embassies, is home to Indian tycoon Lakshmi Mittal and Tamara Ecclestone, daughter of Formula 1 billionaire Bernie.
Mr Abramovich, pictured with girlfriend Daria, had obtained planning permission to convert his Lowndes Square property from nine separate flats into a single family home
The private tree-lined road runs alongside Kensington Palace, home to the Duke and Duchess of Cambridge, and is the most expensive and exclusive in Britain.
Mr Abramovich had obtained planning permission to convert his Lowndes Square property from nine separate flats into a single family home – and had tried to sell it with the permission in place for £50 million in June 2012.
But Land Registry figures show he was unable to complete a deal until July this year. Records reveal he sold the nine flats to a Singaporean company, LS Investments.
This week he will announce he is selling his £30,million riverside property in Cheyne Walk, Chelsea, even though it is a favourite of girlfriend Daria Zhukova
Abramovich paid £26.5 million for the separate apartments over a five-year period, and after legal and other costs are covered, he will be lucky to make any profit on the sale.
Another house in Chester Square was given to his former wife Irina and their five children as part of a divorce settlement.
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