Adar Poonawalla acquires London's Priciest House worth Rs.138 million

Indian billionaire Adar Poonawalla is planning to acquire Aberconway House, a mansion near Hyde Park in London for 138 million or Rs. 14.4 billion. It is London’s priciest house. According to the market report, it is the most expensive home sold this year in the city.

According to the report of Financial Times, Aberconway House, a 25,000 square foot property near Hyde Park, is currently owned by DominikaKulczyk, daughter of the late businessman Jan Kulczyk, who was Poland’s richest man.

This deal will be the second most expensive deal of Home in London. The property will be acquired by privately held Serum Life Sciences, a UK subsidiary of the Poonawalla family’s Serum Institute of India. Serum Life Sciences has announced a 50 million

funding initiative to establish ‘The Poonawalla Vaccines Research Building’ at the University of Oxford. This research facility, focusing on vaccinology, will house over 300 research scientists. Serum Institute has previously collaborated with Oxford University's Jenner Institute for the development and global rollout of the Oxford/AstraZeneca COVID-19 vaccine.

Report also informed that the Poonawalla family has no intention to shift to UK permanently but that the house will serve as a base for the company and family when they are in the UK.

The net worth of Adar Poonawalla 's father Cyrus Poonawalla has been pegged at $22.1 billion, ranking him among India's richest. Headquartered in Pune, Serum Institute is the world's biggest producer of vaccines. Adar Poonawalla has graduated from The University of Westminster in London, and he joined Serum Institute in 2001. Adar took over the business from his father as CEO of the group in 2011. The Poonawalla family also holds a majority stake in the listed financial services firm PoonawallaFincorp.

In recent years  a big fat investment was done by Indian billionaire Ravi Ruia, who bought Rs. 1,200 crore London mansion linked to Russian property investor Andrey Goncharenko in one of the UK capital’s biggest residential deals.