Archive for the ‘Ukraine’ Category

Pass notes No 2,963: Rinat Akhmetov

Wednesday, April 20th, 2011

The Ukrainian billionaire has just bought the most expensive property ever sold in the UK

Age: 44.

Appearance: Evil Adrian Chiles.

I’d say he looks more like a posh Ralph Wiggum. Perhaps.

Or a crushed Louis Walsh. Shall we move on?

Sure. Let me guess: he’s a super-rich billionaire. That’s a tautology.

So’s evil Adrian Chiles. Touche. Yes. He’s a super-rich billionaire. Forbes magazine lists him as the 39th richest person in the world, with a £9bn empire run from headquarters in Donetsk, the eastern Ukrainian mining town where Akhmetov was born. Naturally, he now owns the football team. He made his first million trading coal and now runs steel, electricity and media businesses.

Ooh, I’ve got another one! Pointy Chris Huhne. Brilliant. They do indeed look vaguely similar. Can we talk about what he’s done now?

What has he done? He has bought a pair of new flats at One Hyde Park in Knightsbridge, London. For £136m.

And? And he’s spending another £60m knocking them through into a three-storey penthouse with a private cinema, a 21m swimming pool, saunas and a gym. Treated as one property, the resulting £136m apartment is the most expensive residential UK property ever sold.

Looks like Peter Beardsley’s less talented brother has done all right for himself. That’s enough with the look-alikes now. We don’t want to get in trouble with a billionaire.

Don’t we? That’s not what I signed up for. I’m a serious investigative journalist. No, you’re not. You’re me pressing Ctrl and B and pretending to be an idiot. Now ask me one more question and let’s wrap this up.

Fine. Anything else we ought to know about this Akhmetov guy? Ukrainian journalists have accused him of having links to organised crime. A claim we should definitely, definitely point out he has vigorously denied.

Surely that’s the part that will get us in trouble. Let’s hope not.

Do say: “He looks like a nice man with a forgiving sense of humour.”

Don’t say: “He also looks a bit like a sad owl.”


guardian.co.uk © Guardian News & Media Limited 2011 | Use of this content is subject to our Terms & Conditions | More Feeds

Rinat Akhmetov pays record £136.4m for apartment at One Hyde Park

Wednesday, April 20th, 2011

Ukraine’s richest man spends record amount for a UK home after buying two Knightsbridge flats totalling 25,000 sq ft

Ukraine’s richest man, Rinat Akhmetov, has paid the highest price for a UK residence, buying an apartment in the One Hyde Park development in Knightsbridge.

Land Registry documents show that two properties on the seventh and eighth floor of the luxury development have been bought by a single buyer, the total consideration amounting to £136.4m.

Confirmation of the sale had been expected for some time, with news that a purchaser had paid the huge sum emerging last year. It has been estimated that the buyer would also be spending £60m fitting out the property.

A spokesman for Akhmetov’s company, System Capital Management, confirmed the oligarch had invested in the development, which has caused uproar among local residents because of its modern architecture.

Akhmetov, the son of a coal miner, runs SCM, a Ukrainian conglomerate involved in mining, retail, financial services and even football – it owns the club Shakhtar Donetsk.

Estimates of his fortune vary, although most agree he is worth billions of pounds. As the owner of Metinvest, a coal, ore-mining and steel business, his net worth is likely to have soared over the past year on the back of the commodities boom, with Forbes recently estimating his fortune at $16bn (£10bn).

Buyers of flats in One Hyde Park are treated as permanent guests of the Mandarin Oriental, the hotel adjacent to the development. As well as outlining the property bought in each case, each lease document also specifies which area of the development’s wine cellar the buyer is entitled to. Akhmetov will be able to store his collection of fine wines in wine storage spaces 16 and 17.

The flat is reported as having an area of 25,000 square feet, meaning the Ukrainian billionaire has spent £5,456 a square foot.

That is less than the absolute peak figures the developers, Nick and Christian Candy, had hoped for – with the highest flats with the best views of Hyde Park expected to go for as much as £6,000 a square foot.

The brothers are unlikely to be too bothered, however. Total sales of about half the flats have reaped £963m, the Candys have indicated, enough to almost pay off the £1.1bn cost of the development.


guardian.co.uk © Guardian News & Media Limited 2011 | Use of this content is subject to our Terms & Conditions | More Feeds