Unsanctioned Abramovich partners own £500m property empire
Two unsanctioned Russian billionaires who are business partners of Roman Abramovich have a £100m British property empire, according to leaked documents.
The steel barons Alexander Abramov and Aleksandr Frolov hold investments including a Caribbean island and office space in London, Leicester and Glasgow. They allegedly have a stake in a company trying to acquire Shepherd’s Bush Market, W12.
Both men were also named on the “Putin List” of 210 prominent Russians released by the US Treasury in 2018.
Two unsanctioned Russian billionaires who are business partners of Roman Abramovich have a £100m British property empire, according to leaked documents.
The steel barons Alexander Abramov and Aleksandr Frolov hold investments including a Caribbean island and office space in London, Leicester and Glasgow. They allegedly have a stake in a company trying to acquire Shepherd’s Bush Market, W12.
Both men were also named on the “Putin List” of 210 prominent Russians released by the US Treasury in 2018.
Jointly, Abramov and Frolov have an extraordinary portfolio, including multiple investments in the UK. Documents seen by the Guardian show these include:
West Caicos, a Caribbean island intended to be developed as a luxury resort island.
Proposed but rejected redevelopment of St Paul’s Church, Robert Adam Street, London, to include office space.
Shepherd’s Bush Market, via investment in the company aiming to acquire a majority stake.
Office space in London, Leicester and Glasgow.
A Prague golf course community with homes, a hotel and spa.
Land and a part-built hotel on Mykonos, alongside an operating partner.
An office on Clifford Street, one of London’s most prestigious Mayfair addresses.
Their previous investments are said to include historic British pubs including the Black Cap in Camden, north London, an LGBTQ venue that closed in 2015.
Abramov and Frolov’s investment portfolio is reportedly run by Vollin Holdings, a company based in the British Virgin Islands. Its investments are reported to be valued at in excess of €500m and are managed by Kew Capital and promoted by Decimus Real Estate, both of which are based in Mayfair.
The Decimus website, which describes its team as “long-term investors, developers and asset managers in global real estate”, lists luxury properties in Knightsbridge, Kensington and Mayfair among its previous projects. It also names an almond farm in Portugal and a luxury resort in Brazil among present and future projects.
The Guardian
The Times (£)
