The UK government said that Usmanov owned Sutton Place, a 16th-century estate located in Surrey, in the south of England.
The property is estimated to be valued at $40.5 million and is listed as a Grade I historic building, according to the OCCRP's asset tracker.
The mansion was owned by a series of wealthy men in the 20th century, per OCCRP, including the oil magnate J. Paul Getty.
The estate is not listed as belonging to an individual but instead to two companies in Cyprus, according to the tracker. A recent investigation by the Financial Times found a number of business links connecting Usmanov to the property, but could not trace it directly back to him.
A spokesperson for Usmanov told Insider that Sutton Place is not "owned or used by Mr. Usmanov."
"It is the property of the trusts whose beneficiary is his sister, and who has a family of her own. We have already stated that long ago, Mr. Usmanov transferred his real estate and other property into irrevocable family trusts. We have also emphasised that this had nothing to do with sanctions or an attempt to hide anything, but was driven by the wish to care for his relatives," the statement added.
The spokesperson said that Usmanov started to establish trusts 15 years ago, renouncing any rights he held to the assets he transferred into them.
It is not clear when the assets related to Sutton Place Estate were transferred into the trust.