The family office of Ruia, who co-owns the Essar Group, bought the Hanover Lodge mansion opposite Regent’s Park at 150 Park Road this month through a Gibraltar-incorporated holding company sale of the house, according to a person familiar with the matter.
The mansion was most recently owned two years ago by Goncharenko, the former deputy chief executive of Gazprom Invest Era, a subsidiary of the Russian state-run energy firm. They bought the outstanding lease on the property in 2012 from Conservative Party colleague Rajkumar Bagri for £120 million, the person said.
“The property is under construction and has become available at a price that makes it an attractive investment for a family office,” William Rego, spokesman for the Ruia family office, said in an emailed statement.
The deal was first reported by the Financial Times.
London’s most expensive homes are generally bought by buyers who are less dependent on debt, especially as high interest rates reduce the incentive to borrow money. Globally, around 17% of individuals with a net worth of $30 million or more bought at least one home last year, according to a report by broker Knight Frank.
The latest deal highlights the secrecy that still prevails in London’s ultra-prime property market, despite a UK effort to bring in more transparency through a register for foreign entities launched last year. Russia’s invasion of Ukraine has also prompted the government to help improve London’s reputation as a haven for oligarchs close to Vladimir Putin, although Goncharenko is not the target of sanctions imposed on wealthy Russians.
Still, the success of the tighter regulation – which requires foreign companies to declare beneficial owners or face possible prosecution – has been mixed, with luxury homes still changing hands without full public disclosure. record share of London Homes sold off the market in the last three months of last year, a particularly popular trend among the capital’s most expensive properties, according to broker Hampton International.
Law firm Withers advised the Ruia Family Office on the deal. Bloomberg was not able to reach Goncharenko for comment.