At Rs 1446 Crore, Billionaire Adar Poonawalla Buys London¡¯s Most Expensive House Of This Year
Covishield vaccine maker Serum Institute of India's (SII) CEO, Adar Poonawalla, has continued the trend of Indian billionaires buying super expensive properties in foreign countries. The ¡°vaccine prince¡± has reached a deal for London¡¯s most expensive home sale of this year, agreeing to pay about ?138 million (Rs 1446 crore).
Covishield vaccine maker Serum Institute of India's (SII) CEO, Adar Poonawalla, has continued the trend of Indian billionaires buying super expensive properties in foreign countries. The ¡°vaccine prince¡± has reached a deal for London¡¯s most expensive home sale of this year, agreeing to pay about ?138 million (Rs 1446 crore).
What Is The Size And Location Of The House?
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Adar Poonawalla has bought a 25,000-square-foot mansion in the Mayfair district of the UK. Named Aberconway House, a vast 1920s home near Hyde Park, the mansion will change hands as the sale has been agreed upon. The impressive red-brick residence is named for Henry Duncan McLaren, Baron Aberconway, a turn-of-the-century industrialist who built the Grosvenor Square mansion.
Who Is Poonawalla Buying The House From?
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The property will be acquired by Serum Life Sciences, a UK subsidiary of the Poonawalla family¡¯s Serum Institute of India, people familiar with the transaction said, as per The Financial Times report.
The mammoth price tag makes Aberconway House the second-most expensive home ever sold in London and the biggest deal of the year, according to luxury property agents.
Also Read: UK Couple Wins Case Against After Home Built Too Close To Neighbours
Why Did Poonawalla Purchase The Mansion?
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A person close to Serum Life Sciences said the Poonawalla family had ¡°no plans¡± to move to the UK permanently, but that ¡°the house will serve as a base for the company and family when they are in the UK.¡± The London deal follows multimillion-pound investments in vaccine research and manufacturing facilities near Oxford, the person added. In 2021, the family pledged ?50 million to Oxford University for a new Poonawalla Vaccines Research Building.
Also Read: Throwback: When George Soros Broke The Bank Of England In 1992
Which Has Been London's Most Expensive House Sale Ever?
London¡¯s most expensive house sale was 2-8a Rutland Gate, sold in January 2020 by the estate of the former Saudi Arabian crown prince Sultan bin Abdulaziz for a record-breaking ?210 million. As per the report, it was revealed last year that the true identity of the buyer was Hui Ka Yan, the founder and chair of Evergrande.
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