Baroness Michelle Mone has been allowed to retain rental income of up to £15,000 a week from a luxury London mansion, despite the property being subject to a court-ordered asset freeze linked to the £148 million PPE MedPro scandal.
A judge has approved an amendment to an existing freezing order, allowing rental income from a £25 million Grade II* listed property in Chester Square, Belgravia, to be frozen pending criminal and civil investigations. The property can be given on rent but cannot be sold.
The mansion is owned through an Isle of Man-registered company linked to the business empire of Monáe's husband, Doug Barrowman. It was bought for £9.25 million in December 2020, shortly after Barrowman-led consortium PPE MedPro won a £122 million government contract to supply surgical gowns during the Covid pandemic. The gown was later declared unfit for use.
Court documents seen by The Times show the ruling was handed down during a closed hearing at Southwark Crown Court, where Judge Tony Baumgartner said rental income from the property “is not controlled and there are no restrictions on the use of this income”.
The Belgravia property has undergone extensive renovation, including the addition of a cinema room, spa facilities and a basement level. It was previously marketed at a price of £25 million.
The amended order is part of a wider £75 million asset freeze imposed in 2023 while the National Crime Agency investigates the PPE Medpro deal. PPE Medpro was ordered to repay £148 million to the Department of Health and Social Care after losing a case in the High Court last year, but it entered administration a day before the ruling was due.
In separate rulings, Mone and Barrowman have also been allowed to rent out several other UK properties held through offshore companies, including properties in Glasgow and the Isle of Man. Income from those assets is not restricted, although the proceeds from any approved sales must be placed under legal supervision.
Other assets covered by the freeze include the bank accounts of Coutts, C Hoare & Co and Goldman Sachs, as well as the 39-metre superyacht, Lady M. The order does not extend to the £41 million villa in St Barts or the reported $12.5 million property in Miami.
Barrowman is reported to have received at least £65 million from PPE Medpro, including £29 million transferred to a trust for the benefit of Monáe and her children.
Legal experts have previously warned that the government's ability to recover the money will depend on whether liquidators pursue directors and beneficial owners, a process that could take years and involve significant costs.