Saturday, 7th November 2009

 

Billionaire Abramovich goes on a property binge

Russian billionaire Roman Abramovich has paid $36.3m (€23.3m) for an eleven bedroom mountainside mansion in Colorado, less than a week after commissioning the conversion of a central London house worth £150m – the UK’s most expensive property in history.

Abramovich’s newest estate, the formidable Wildcat Ridge Mansion, sprawls across 200 acres on a mountain above Snowmass Village in Denver.

The 14,300-square-feet mansion was custom-built for US Surgical Corporation founder, Leon Hirsch.

The purchase comes less than a week after it emerged that the Russian billionaire is in the process of developing what will be the UK’s most pricey property.

The eight-bedroom Knightsbridge mansion is expected to have a cinema room, indoor swimming pool, steam room and entertainment room, all set across eight stories – three of them underground. The development will take place in two adjoining townhouses, which were split into nine separate apartments in 1998.

The project is expected to be completed next year.

Brummel

Relocation, relocation, relocation

Banks have never been shy of firing staff at the merest whiff of a downturn. First the fat, then the muscle and finally the bone. In the past, cuts have been so deep that firms have found it hard to benefit when the markets rebounded, paying over the odds to restaff at speed. Such wild oscillations in staffing numbers are known as “doing a Merrill”.

Rich Monitor

Sotheby's 3Q loss widens

Sotheby's third-quarter loss widened as the art auction house posted a worst-than-expected decline in revenue and a tax expense.

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