One of the ‘Grenfell Six’ arrested over a vile bonfire night effigy is a property millionaire who owns an £8million block of flats in one of London’s most exclusive addresses, MailOnline can reveal.
Paul Bussetti owns a block of flats that is made up of one, two and three bedroom homes that rakes in at least £30,000-a-month.
He is believed to have used a £4m inheritance from his murdered father to buy the mansion block with his brother and sister.
The 49-year-old, who was arrested and later released over his involvement in the sick bonfire party, co-owns the property in Clapham, south west London, with his sister Lisa and brother, Antony.
Paul Bussetti, one of the ‘Grenfell Six’ arrested over a vile bonfire night effigy is a property millionaire who owns an £8m block of flats (pictured) in one of London’s most exclusive areas
Bussetti, 49, pictured on holiday with his wife Gemma, owns the vast property comprising of eight flats that rakes in his family around in £30,000 a month in rent
Bussetti drives a black Range Rover with a peronalised number plate and a plaque on the family’s £500,000 home in South Norwood, London, boasts they are ‘party animals’
He was one of six men who handed themselves in to police on Monday after a horrifying video of an effigy of Grenfell Tower on fire went viral
The Georgian block comprises of 16 flats and local estates agents value the building at £8million.
All the flats at the property are leased out with a one bedroom costing £1,500 a month.
A two bedroom would go for £2,000 a month while a three bedroom would fetch upwards of £2,400.
A tenant living at the block confirmed to MailOnline that he pays his monthly rent to Bussetti.
An estate agent told MailOnline the annual income would be close to £400,000.
One tenant, who asked not to be named, said the flats were in need of refurbishment.
The outside of the building appears to be have been neglected for some years with paint peeling from window frames and the white pillars at the entrance.
Window boxes on the ground floor flats contain wilted plants while the front doors are painted different shades of red.
Father of two Bussetti had a shared inheritance of £4m with his brother Anthony and sister Lisa when their father Lorenzo was found shot in the head and chest following an argument with a tenant at one of the four homes he owned in South London.
A tenant at the block confirmed to MailOnline that he pays his monthly rent of £1,500 to Bussetti, pictured on holiday with his wife at another exotic destination
The tenant said: ‘The monthly rent goes to Paul Bussetti. I have never met him but his brother Antony comes round when there is a maintenance problem.
‘To be fair they are quite efficient and turn up to carry out repairs but the flat are not of the highest spec. But they are affordable in an area where rents are really high.’
The tenant said the flats complied with all safety regulations and were fitted with smoke alarms and CO2 detectors.
Compared to a neighbouring block which has been extensively refurbished the outside looks in dire need of work.
The flats are mostly managed by Busetti’s godson, who works for a local estate agents in the Clapham area.
Young professionals favour the area and Bussettii’s property is close to many bars and restaurants.
Clapham South Tube station is a four-minute walk way with good links to central London.
Bussetti inherited millions from his father Lorenzo, who was found shot in the head and chest following an argument with a tenant at one of the four homes he owned in South London.
The 55-year-old’s body was later found stuffed in a suitcase in Hackney in 2002.
The effigy was burned in the back garden of a house where scaffolder Clifford Smith lives, one of six men arrested on suspicion of a public order offence when he handed himself in
Smith was held for 24 hours along with his son Bobbi, 19, who was slammed by his mother
Bobbi, Crystal Palace fan, was the first person identified in the sickening video from the Bonfire Night party
Steve Bull, pictured fishing with friends, is another of the men arrested
Mark Russell, who lives around a two miles away in West Norwood with his wife Debbie (together left), is in the video
A court heard he was involved in a row with a tenant over a deposit and after being shot his body was found in a suitcase in Hackney, East London.
Bussetti has not been seen since he was named as being one of the men who attended the Grenfell party in South Norwood.
His wife Gemma and daughter Daniella were also in attendance and have gone into hiding.
Relatives claimed the family were not racists and were now in fear of their lives having made a mistake of attending the party thrown by his friend Clifford Smith who lives in a neighbouring street.
Bussetti drives a black Range Rover with a peronalised number plate and a plaque on the family’s £500,000 home boasts they are ‘party animals’.