Iran's New Leader Holds £100m in Derelict London Mansions on 'Billionaires Row'
Iran's new leader, 56-year-old Mojtaba Khamenei, is believed to own at least 11 derelict properties valued at approximately £100 million on London's exclusive Bishops Avenue, famously known as 'billionaires row'. This prestigious thoroughfare in Hampstead's northern suburbs is home to palatial residences, yet Khamenei's holdings stand out as vacant and decaying.
Background of the Properties and Acquisition
The late Ayatollah Ali Hosseini Khamenei was killed in coordinated U.S. and Israeli airstrikes on Tehran on February 28, with his son Mojtaba reportedly injured in the same attacks that also claimed the lives of his mother and wife. As the Ayatollah's second-eldest son, Mojtaba is now keeping a low profile due to fears of further assassination attempts, with speculation about his health after he missed his own succession ceremony.
One firm was allegedly employed in 2013 to secure a £73 million collection of mansions along Bishops Avenue for the Iranian regime. Despite their dilapidated state, these properties are now estimated to be worth around £100 million. Neighbours report that individual mansions can fetch upwards of £40 million each, with one noting a property that sold for £12 million in the 1990s now valued at £40 million, though unoccupied for decades.
Ownership Through Sanctioned Businessman
Mojtaba Khamenei is said to have acquired these properties through disgraced businessman Ali Aliakbar Ansari, who faces UK sanctions and is accused of funding 'hostile activity' by the Islamic Revolutionary Guard Corps (IRGC). Ansari purportedly purchased the mansions via Birch Ventures Limited, registered in the Isle of Man, and has allowed them to fall into dereliction. In subsequent years, he spent £33.7 million on a new property and £8.1 million on a flat in a gated complex on the same street.
Current State and Security Presence
Much of Bishops Avenue resembles a construction zone, with contractors working on large projects and converting some properties into flats or care facilities for the elderly. However, Khamenei's holdings are frequently described as 'ghost houses'. One contractor mentioned hearing rumours about Iranian ownership but quickly departed, while another confirmed seeing no activity at the properties.
At one crumbling building behind boarded-up gates, believed to be numbers 53 and 55, a deserted security cabin filled with discarded furniture was visible. The roof was damaged by a fire in 2023, with destruction still evident. Higher up the road, a security guard emerged to challenge photographers at another suspected Khamenei property, denying ownership when questioned.
Another estate, Arden Court Gardens, is said to contain at least five houses behind its gates, also reported to belong to Khamenei in a Bloomberg News investigation. It appears less dilapidated but shows little sign of occupancy.
Political and Financial Implications
Since the revelation of Khamenei's substantial stake in these properties, their fate remains uncertain. As they stand derelict and empty, the UK government is likely keen to prevent Khamenei from benefiting financially from any future sales. London-based politician Joe Powell has called for additional sanctions on Iranian-linked networks in Britain, emphasising the need for an accurate foreign property register to combat dirty money in the capital.
These vacant mansions contribute to the over 1 million deserted properties in the UK, remaining a blight on the landscape while raising questions about foreign ownership and sanctions enforcement.
