A Ukrainian billionaire is set to turn a derelict mansion into one of London’s finest homes

A Ukrainian billionaire has received the go ahead to turn a derelict mansion into one of London’s finest stately homes.

Earlier this year, businessman Mikhail Fridman paid an impressive £65 million ($86 million) for Athlone House on the edge of Hampstead Heath, in north London, and now officials have agreed to his renovation plans.

According to the Daily Mail, once completed the home will have six bedrooms, an underground swimming pool, a wine cellar, and a media room. Along with tennis courts, a large living room, dining room, ‘relaxation area’, cigar room, study, gym, a yoga room and cottages for staff. It’s estimated that the value of the home will rocket up to £130 million ($172 million).

The previous owners of Athlone House – built in 1855 – was a family who wanted to demolish it and build a new mansion double its size in its place. Planners repeatedly denied their requests. [Daily Mail]