The ex-partner of a sanctioned Russian oligarch sold her One Hyde Park property at a £26m loss.
Natalia Rozhkova, who dated sanctioned Russian billionaire Alexander Ponomarenko for several years, sold her One Hyde Park flat in September for £34.8m to Israeli tech billionaire Oran Holtzman, according to Land Registry records. The flat was originally purchased in August 2011 for more than £61.3m through an offshore company.
One Hyde Park in Knightsbridge has long been a symbol of London’s ultra-wealthy, competing with Mayfair as the city’s top prime real estate.
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In 2011, One Hyde Park saw an influx of Russian and other overseas buyers, helping to cement its status as a major draw for global HNW individuals. Since opening in 2009, it has attracted a mix of wealthy international owners, including well-known figures such as Kylie Minogue. That same year, Ukrainian businessman Rinat Akhmetov set a record at the time by paying £136.6m for a penthouse.
However, prime central London property is still facing headwinds, with Savills data indicating that prices remain around a quarter below their 2014 peak.
Yet the picture is not entirely negative. Figures published earlier this year by Beauchamp Estates suggest that, while sales of homes priced above £15m fell by about 13 per cent in the first half of 2025, the market is no longer declining as sharply as it did a year earlier.
The agency says the recent dip is partly due to non-dom owners cashing out and relocating to lower-tax jurisdictions. Overall deal values in central London fell from roughly £795m in early 2024 to £694m this year, though the drop is smaller than the 23 per cent decline recorded between 2023 and 2024.
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[See also: Neighbourhood watch: where the super-rich really live in London]
At the same time, other prime central London areas are performing strongly, with Mayfair standing out as a particularly resilient hotspot. The area is in the midst of a £4 billion regeneration and development boom, including over £100m invested in public spaces, Spear’s revealed exclusively last month. Major projects include 1 Mayfair, with a gross development value of £2 billion, and the Reuben Brothers’ £1 billion redevelopment of a collection of prime assets, dubbed ‘the Piccadilly Estate’.
This difference in performance highlights that prime central London is far from uniform: while Mayfair continues to attract strong investment and rising prices, parts of Knightsbridge, including One Hyde Park, remain under pressure. Home prices in Mayfair are now 52 per cent above the prime central London (PCL) average, up from 27 per cent in 2012, according to LonRes data. By contrast, Knightsbridge values are only 18 per cent above the PCL average, down from over 50 per cent in 2012.
