Ukrainian born billionaire looks to control rental expenses by buying up W8 block

Ukrainian born billionaire looks to control rental expenses by buying up W8 block

Len Blavatnik, the billionaire investor who pocketed $7 billion from the sale of Russian oil company TNK-BP, has entered advanced negotiations to buy Warner Music Group’s headquarters at 27 Wright’s Lane for around £60 million – just over twice the amount he received from JP Morgan in 2013 after suing them for a breach of contract in managing his money. The Ukrainian-Born US Citizen, who also owns  stakes in Deezer, Spotify, and the newly formed Beats Music, bought Warner Music Group in 2011 for £2 billion and was listed as the 4th richest man in Britain on the 2014 Sunday Times Rich List.

Whitewall Magazine Party At Delano Beach Club

Len Blavatnik (left) is a Ukrainian-Born US Citizen who Forbes rank as the 38th Richest Man in the World, Alan Faena (right) is an Argentine-born developer with leading projects in native Argentina & Miami

This marks the first substantial CIS investment in the West End London sub-market since 2012, and marks a growing shift in the market as firms seek to acquire their buildings to manage rental costs.  Having also recently acquired a lease to December 2020 on 99 High Street Kensington, WMG appear to have been consolidating in Kensington lately, and the 70,000 square foot building at 27 Wright’s Lane is a mere 5 minute cab ride away from his residence  at 15 Kensington Palace Gardens,  on the renowned street also known as billionaire’s row.

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27 Wright’s Lane was previously owned by IBRC

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Blavatnik’s £200,000,000 Residence on Kensington Palace Gardens

A US national who consistently appears in lists of the world’s 50 richest men, he is Obama’s largest billionaire donor and the school of computer science at Tel-Aviv University is named after him. He is known to invest in a wide range of industries, with other property projects including joint ventures with Alan Faena to build “Faena districts” in Buenos Aires and Miami Beach. He bought Parlophone Records in February last year, which has the likes of Tinnie Tempah, Coldplay and the Blur on its roster.

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Part of the Foster + Partners’  Faena House Design currently under construction in Miami Beach, a joint development of Faena & Blavatnik