Vincent tchenguiz puts french villa on the market for £25m

The elder brother of the Iranian-born Tschenguiz brothers business duo has appointed the estate agents Knight Frank to sell the property, Villa Symphonie, in the South of France.

A spokesman for Mr Tchenguiz said that it was "simply a case of good timing because there are lots of Russians looking to buy villas".

The sale is the latest move in a radical reorganisation of the assets of Mr Tchenguiz and his brother, Robert. Last week Barclays applied for a "Deed of Charge" over credit balances on accounts of R20, Robert Tchenguiz's main investment vehicle. The charge, which may be applied for under the Companies Act, allows Barclays to insist that all of R20's costs and expenses are matched by cash deposits. The charge was filed last week at Companies House. It was reportedly applied for several months ago.

Source: Telegraph Online