Timur Kulibayev has sold a London property on Upper Grosvenor Street to the investment company North Wind Capital. According to journalists, the transaction amounted to £35 million (around 20 billion tenge).
As reported by Press.kz citing the Financial Times, the building is located a few minutes' walk from Buckingham Palace. The new owner, North Wind Capital, plans to renovate the mansion.
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For reference: North Wind Capital is a real estate investment group founded by Ben Williams, a former director of the special situations real estate department at Deutsche Bank.
Kulibayev also intends to sell the neighbouring building he owns. It is noted that until recently, both properties in central London had been part of the former president's son-in-law's overseas real estate portfolio for nearly two decades.
Kulibayev previously owned the former estate of Prince Andrew, son of Queen Elizabeth II. The Sunninghill Park mansion was located 40 km from London. Some time later, the Kazakh businessman demolished the residence and built a new building.
Nazarbayev's relatives also own castles in Germany worth €100 million, which are effectively abandoned. In addition, Kulibayev owns the Spanish estate Can Juncadella on the Mediterranean coast and the Fleur du Lac hotel in Switzerland.