£35.75 million London penthouses linked to Iran leader Mojtaba Khamenei put up for sale

Dubai: Two luxury London penthouses linked to Iran’s Supreme Leader Mojtaba Khamenei have been forced onto the market after their sanctioned registered owner defaulted on mortgages, offering a glimpse of how mounting financial restrictions are squeezing an overseas property network allegedly built for Iran’s ruling elite.

The apartments at 3a Palace Green, one of London’s most exclusive addresses overlooking Kensington Palace, were bought for a combined £35.75 million (About $48 million/Dh 177 million) but have now entered receivership, The Sunday Times reported.

One of them, a five-bedroom duplex bought for £19 million in 2016, is being offered for just under £12 million — about £7 million below its purchase price.

The second, bought for £16.75 million in 2014, has also entered receivership, although it has not been publicly listed and its asking price is unknown.

Both are registered to Iranian banker Ali Ansari, whom the US Treasury sanctioned in July, describing him as a “key financier” who oversees a sprawling global network of assets benefiting Khamenei and other Iranian elites.

The Sunday Times described Ansari as a suspected frontman for Khamenei and reported that the British government authorised the properties to be sold after he defaulted on their mortgages.

Private lenders who financed the purchases have appointed receivers to recover what they are owed. Any money left after the lenders are repaid is expected to be frozen while Ansari remains under sanctions, according to the newspaper.

The scale of the potential loss on the publicly listed property is striking.

The 3,944-square-foot duplex occupies the sixth and seventh floors and comes with staff accommodation and a private roof terrace. It overlooks Kensington Gardens and is being marketed jointly by Knight Frank and Sotheby’s International Realty.

The sales material flags an unusual complication for prospective buyers: Because the property is in receivership, the agents do not possess all the material information normally available about a property, according to The Sunday Times.

Several prospective buyers are nevertheless believed to have viewed the apartments amid significant interest.

The second penthouse occupies the seventh and eighth floors. Land Registry documents cited by the newspaper show that financial advisory firm Teneo was appointed as receiver.

Neither Ansari nor Khamenei has been seen at the Palace Green development since the apartments were purchased, The Sunday Times reported.

The sale comes amid intensifying scrutiny of Ansari’s financial network.

Britain sanctioned Ansari in October 2025, imposing an asset freeze, travel ban and director disqualification after accusing him of financially supporting the activities of Iran’s Islamic Revolutionary Guard Corps.

The US went significantly further in July.

The Treasury accused the Iranian businessman of using numerous shell companies and bank accounts across several jurisdictions to build an overseas portfolio of real estate and commercial interests.

It said the network stretched across Britain, Germany, Luxembourg, Spain and Cyprus and alleged that many of the financial interests held in Ansari’s name were ultimately for the benefit of Khamenei, his family, other Iranian elites and the IRGC.

The Treasury also linked Ansari to the now-defunct Ayandeh Bank, accusing him of using his position there to overextend loans and divert billions of dollars while expanding his overseas business interests. Ansari has denied wrongdoing, according to reports.

The fate of the Palace Green penthouses illustrates one practical consequence of the sanctions drive: Valuable overseas assets linked by Western authorities to Iran’s leadership can become increasingly difficult to finance, manage or monetise.

The mortgage defaults do not establish that Khamenei himself is facing a shortage of cash. But the combination of frozen assets, sanctions against a key financier, mortgage defaults and receivership suggests growing pressure on at least part of the overseas financial structure that US authorities say benefits Iran’s leadership.

The location also adds to the properties’ extraordinary profile.

Palace Green runs alongside Kensington Palace and the diplomatic enclave around Kensington Palace Gardens. Previous British reporting has highlighted the apartments’ proximity to the Israeli embassy, which is on the same street.

For now, the lenders get first claim on the proceeds.

Mojtaba Khamenei has not been seen or heard from publicly since his father was killed in US-Israeli airstrikes in February. His whereabouts and condition remain unclear.

If the £19 million penthouse sells near its current asking price of under £12 million, it would crystallise a substantial decline from what was paid a decade ago. And even if money remains after the mortgages are settled, The Sunday Times reports that the surplus is expected to be frozen rather than returned to Ansari while sanctions remain in force.

For an overseas property network associated by Washington with Iran’s most powerful political circle, that may be the more significant story than the sale itself: Some of its most prestigious London assets are no longer simply stores of wealth — they are being unwound under financial and sanctions pressure.