French authorities have seized Roman Abramovich’s stunning villa in southern France, once owned by the Duke and Duchess of Windsor, as part of a crackdown on Russian oligarchs during the invasion of Ukraine.
The Château de la Croë sits on one of the most prestigious parts of the French Riviera – the Cap d’Antibes – and local estate agents estimate it’s worth around £90m.
Built in 1926, the elegant villa has more than a dozen bedrooms and eight bathrooms. It is set amidst 12 acres of lush woodland and lush lawns just meters from the Mediterranean Sea.
Abramovich spent around £30million restoring the castle after buying it in 2001, building a 15-metre rooftop swimming pool and adding a massive gym and home cinema in the basement to create the ultimate billionaire playground create.
But before one of Putin’s favorite moneymen moved in, the incredible property was used as a holiday home by former England’s King Edward VIII and American socialite Wallis Simpson – better known as the Duke and Duchess of Windsor.
The Château de la Croë sits on one of the most prestigious parts of the French Riviera – the Cap d’Antibes – and local estate agents estimate it’s worth around £90m
Abramovich spent around £30million restoring the castle after buying it in 2001, building a 15-metre rooftop swimming pool and adding a massive gym and home cinema in the basement to create the ultimate billionaire playground create
The Duke and Duchess of Windsor became owners of the Château de la Croë in 1938 after King Edward VIII abdicated the throne. The villa has become one of the couple’s favorite retreats and has also seen multiple uses to host esteemed guests
Built in 1926, the elegant villa has more than a dozen bedrooms and eight bathrooms. It is set amidst 12 acres of lush woodland and lush lawns just meters from the Mediterranean Sea
The château is one of 12 estates owned by Russian oligarch Roman Abramovich confiscated by French authorities
The Duke and Duchess of Windsor became owners of the Château de la Croë in 1938 after King Edward VIII abdicated the throne.
The villa has become one of the couple’s favorite retreats and has also seen multiple uses to host esteemed guests.
Winston Churchill, the famous Prime Minister who successfully led Britain through World War II to victory, celebrated his 40th wedding anniversary with the Duke and Duchess at the villa in 1948 before the chateau was sold two years later.
The seizure of the mansion by French authorities was part of a huge operation that has seen more than £20 billion worth of cash, property and other assets belonging to Russian oligarchs seized or frozen in recent weeks, France’s Economy and Finance Ministry confirmed today.
A ministry source said the mansion is among 12 confiscated properties from the former Chelsea Football Club owner, most of which were bought by specially formed French companies.
‘[The seized assets] This includes houses, superyachts and helicopters and adds up to well over 25 billion euros,” the source said.
Freezing property assets means they cannot be sold or used for rental income, the source explained.
“There are 33 properties that have been frozen, including a dozen owned by Roman Abramovich.
“This is all part of the sanctions program being imposed on the Russian Federation in response to its invasion of Ukraine.”
The figures also include the equivalent of around £19 billion in cash frozen in French accounts held by the Central Bank of Russia.
Mr Abramovich’s sprawling estate on the Caribbean island of St Barts – an island partly governed by France as an overseas territory – is also among the confiscated assets.
Before one of Putin’s favorite moneymen moved into the French Riviera mansion, the incredible property was used as a holiday home by former England’s King Edward VIII and American socialite Wallis Simpson – better known as the Duke and Duchess of Windsor
There was no immediate comment on the confiscation of the castle of Mr Abramovich, 55, who also had assets such as Chelsea Football Club frozen by the UK government
The seizure of the mansion by French authorities came as part of a massive operation that seized more than £25 billion worth of cash, property and other assets belonging to Russian oligarchs
The mansion Chateau de la Croe was once the home of the Duke and Duchess of Windsor. It is located in Cap d’Antibes, on the French Riviera between Nice and Cannes
Property has also been acquired in the alpine ski resort of Meribel as well as other world famous Riviera resorts such as Saint-Tropez and Cannes.
The French Treasury has formed a task force of tax inspectors and customs officials to identify and confiscate property belonging to Russians on an EU sanctions list.
It came as France has also expelled six suspected Russian spies “operating under diplomatic cover”.
A Foreign Ministry spokesman said the men and woman were sent back to Moscow after a lengthy investigation by the DGSI.
Their investigation uncovered “a secret operation carried out by Russian intelligence agencies on French soil,” the source said.
There was no immediate comment from Mr Abramovich, 55, who also had assets such as Chelsea Football Club frozen by the UK government.
He is a close ally of Russian President Vladimir Putin and is believed to be in Moscow.
As Abramovich sees his fortune confiscated, several billionaire prospective buyers compete to take ownership of his beloved Chelsea.
Chelsea FC’s Stamford Bridge Stadium in London, Britain, 05 April 2022. Several potential buyers are vying to become the next owner of Chelsea Football Club after Abramovich put it up for sale following sanctions
Four known offers are still under review to buy Chelsea, which could sell for around £3billion given the interest that has sparked since Abramovich put the west London Premier League club up for sale.
The UK government must sign off on the sale, which is being overseen by New York-based merchant bank Raine Group, on terms that will allow the team to continue operating since Abramovich was sanctioned.
But Abramovich cannot benefit from any sale proceeds.
“Our job is to consider an application for an amended license authorizing a sale of the club where a preferred bidder comes up,” the UK government said in a statement.
Chelsea have won 21 trophies in 19 years in Abramovich’s possession and have relied on his generous investment to become one of Europe’s most successful clubs.