Indian billionaire Ravi Ruia has bought a Rs1,200 crore (£113 million) mansion in London that is linked to Russian property investor Andrey Goncharenko in one of the city’s biggest residential deals in recent years, according to a report.
The family office of Ruia, who co-owns investment firm Essar Group, purchased the Hanover Lodge mansion overlooking Regent’s Park at 150 Park Road this month through a sale of the home’s Gibraltar-incorporated holding company, the report said.
Goncharenko , the former deputy chief executive officer of Gazprom Invest Yug, a subsidiary of the Russian state-run energy firm, owned the mansion as recently as two years ago. He had bought the property’s outstanding lease in 2012 from Conservative Party peer Rajkumar Bagri for Rs1,264 crore (£120 million).
“The property is under construction and became available at a price that makes it an attractive investment for the family office,” said the report, which quoted William Rego, a spokesperson for the Ruia family office, as saying.
A report from broker Knight Frank said that 17 per cent of individuals globally with a net worth of $30 million or more bought at least one home in 2022.
The latest deal highlights the secrecy that still exists in London’s ultra-prime property market, even as the UK attempts to bring more transparency through a register for overseas entities launched last year.
