Welcome to the neighbourhood! Chelsea boss Roman Abramovich buys £90m home on Britain's most expensive street
By RYAN KISIEL
Last updated at 8:16 AM on 29th August 2011
No wonder he's smiling: Russian billionaire and Chelsea FC owner Roman Abramovich
If you're one of the country’s richest men, it seems there’s only one place to live these days – Billionaires’ Row.
That’s the name given to Kensington Palace Gardens in West London – and Roman Ambrovich is about to become its latest resident.
The Russian oligarch, who owns Chelsea football club, is the third member in the country’s top ten wealthiest individuals to move to what is now Britain’s most expensive street.
He has bought a £90million mansion which is believed to have more than 15 bedrooms and extensive gardens.
An extraordinary subterranean playground is being built beneath the property which will house a tennis court, health centre and a private museum for his six vintage Ferraris.
No estate agents were thought to have been used in the sale and Mr Abramovich, who is worth £10.3billion, is believed to have bought it outright.
It comes after it was reported that he has suspended £150million renovation plans to turn nine flats in Lowndes Square, Belgravia, into a mansion for himself, his partner Dasha Zhukova and their young son.
The family are believed to have become frustrated with the three-year wait for the Belgravia project to be completed. It is also thought that he was unhappy about not being able to own the whole of the property.
The freehold of Lindsey House is half-owned by the National Trust, meaning he has to allow the public access to parts of the house and grounds on certain days of the year.
His new neighbours in Kensington Palace Gardens include Britain’s richest man Lakshmi Mittal, a steel magnate worth £23.8billion.
Mr Mittal bought his home for £57million from Formula One boss Bernie Ecclestone in 2004, and renamed it Taj Mittal.
Residents also include Jon Hunt, who founded Foxtons estate agency, and Ukrainian-born oil magnate, Len Blavatnik, who is worth £4.7billion.
Palatial home: Abramovich is believed to have purchased this property in Kensington Palace Gardens, one of London's most exclusive streets
The tree-lined road also houses a number of diplomatic buildings, including the Russian and Israeli embassies, meaning there are police checkpoints at each end and armed officers outside many buildings.
With the average property price in the road rising to £19.5million, it has overtaken Bishops Avenue, in North London, as being the country’s most expensive street.
The figure is 93 times the national average house price of £205,985. Even a single square foot of land in the street would cost you £1,193.
Adding to the street’s allure is Kensington Palace, set back on the eastern side.
The former home of Princess Diana is still the residence of several minor royals.
Read more: http://www.dailymail.co.uk/news/article-2031021/Chelsea-FC-boss-Roman-Abramovich-buys-90m-home-Britains-expensive-street.html#ixzz1WiC1K7jR
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