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 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
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.



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