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Africa Housing News > Blog > Nigeria Property News > Abramovich’s £200M British Property Empire Revealed
Nigeria Property News

Abramovich’s £200M British Property Empire Revealed

Fesadeb
Last updated: 2021/01/30 at 6:20 PM
Fesadeb Published January 30, 2021
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The Russian billionaire, 54, reportedly boasts a British property empire that includes a 15-bedroom mansion in Kensington Palace Gardens (pictured) that is believed to be now worth £125 million

The Government has refused to speculate on future sanctions but Ministers do have the power to impose travel bans and freeze the financial assets of individuals involved in human rights abuses.  

Last year the Foreign Office sanctioned six Russians who were said to be complicit in the attempted murder of Navalny and his allies have since released a further list of eight people they deem to be in close contact with the Kremlin.

Abramovich and Usmanov have always denied these claims and a spokesperson for the Chelsea owner insisted there is ‘no foundation’ for them. Usmanov, a former Arsenal shareholder, successfully sued Navalny for libel back in 2017. 

Several properties owned by Abramovich, that were not previously publicly known to have belonged to him, have been uncovered in an investigation by The Times. 

The portfolio includes a flat in Cheyne Terrace, Chelsea, which was purchased for £8.75million in 2017 and includes a high-tech temperature-controlled wine cellar. Abramovich (pictured) and Usmanov have always denied these claims and a spokesperson for the Chelsea owner insisted there is 'no foundation' for them+9

Abramovich (pictured) and Usmanov have always denied these claims and a spokesperson for the Chelsea owner insisted there is ‘no foundation’ for them.

It is close to three other properties that overlook the Thames, bought for £25million,  that he had once intended to knock together and turn into a £100million super-home.

However Abramovich, who made his money selling state assets following the fall of the Soviet Union, scrapped the plan and sold up after he relented to local uproar. 

Abramovich became an Israeli citizen in 2018 after his British visa expired and reportedly owns most of the properties through a holding company called Fordstam

And land registry records show that since he lost his citizenship he transferred 11 properties to the business. 

The empire also includes a £22million three-storey penthouse, bought in 2018, at the Chelsea Waterfront which was completed after his visa expired and the purchase was made in his name. 

Meanwhile the Kensington mansion, which cost a staggering £90million, is part of what is known as ‘billionaire’s row’. Abramovich, whose net worth is believed to be around $14billion (£10bn), bought Premier League football club Chelsea in 2003 and has pumped his fortune into Stamford Bridge (pictured)+9

Abramovich, whose net worth is believed to be around $14billion (£10bn), bought Premier League football club Chelsea in 2003 and has pumped his fortune into Stamford Bridge (pictured).

The desirable postcode is also home to steel magnate Lakshmi Mitta and billionaire business magnate Wang Jianlin. 

Director of policy and programmes at Transparency International UK Duncan Hames told The Times: ‘It is no secret Britain has offered those with links to Putin’s regime a place to invest their money and burnish their reputations.’ 

Mr Hames said a ‘permissive approach to attracting high-end investors’ also ‘poses a serious national security threat’ to Britain. 

A spokesman for Mr Abramovich told the newspaper: ‘There is no foundation for [Mr Navalny’s] claims.’ The empire also includes a £22million three-storey penthouse at the Chelsea Waterfront (pictured) which was completed after his visa expired and was made in his name+9

The empire also includes a £22million three-storey penthouse at the Chelsea Waterfront (pictured) which was completed after his visa expired and was made in his name

It comes after Prime Minister Boris Johnson has been told by MPs to sanction Abramovich and Everton backer Alisher Usmanov, both Russian oligarchs involved in English football, over human-rights abuses.

Both Abramovich and Usmanov were named by detained Kremlin critic Navalny last week as people who should be targeted by Western governments in a bid to curb human-rights abuses by Vladimir Putin’s Russian state. 

They were described as ‘key enablers and beneficiaries of Russian kleptocracy, with significant ties and assets in the West’.Abramovich, pictured alongside Russian President Vladimir Putin in 2016, says there is 'no foundation' for Navalny's claims

Abramovich, pictured alongside Russian President Vladimir Putin in 2016, says there is ‘no foundation’ for Navalny’s claimsUsmanov was awarded Russia's Order of Merit for the Fatherland by Putin at a ceremony in the Moscow Kremlin back in 2018+9

Usmanov was awarded Russia’s Order of Merit for the Fatherland by Putin at a ceremony in the Moscow Kremlin back in 2018

Navalny, a prominent face of the opposition towards the controversial Russian President, was detained at a Moscow airport earlier this month after spending five months in Germany recovering from nerve agent poisoning that he blames on Moscow.

His detention has been condemned by Governments around the world, with the UK and United States urging Russia to release him

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Fesadeb January 30, 2021 January 30, 2021
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