Adar Poonawalla, an Indian billionaire and CEO of the Serum Institute of India (SII), has made headlines by securing the purchase of London's priciest property of the year 2023—a sprawling 25,000 square foot Mayfair mansion. Valued at a staggering £138 million (equivalent to around Rs. 1446 crore), this acquisition marks a significant investment in the UK for Poonawalla.
Aberconway House, the 1920s mansion, will serve as a strategic hub for both Poonawalla's company and family during their visits to the UK, as stated by a source familiar with the transaction. Despite this acquisition, Poonawalla has clarified that he doesn't intend to permanently relocate to London.
Primarily designed as a corporate guest house, Aberconway House will play a pivotal role in hosting events for donors and tech partners. Sources confirmed to CNBC that the property's acquisition by Serum Life Sciences, a UK subsidiary of SII, will enable the Serum group to explore global opportunities that were previously inaccessible from India.
Moreover, the estate includes an adjoining guest house and offers access to one of Mayfair's exclusive 'Secret Gardens,' enhancing its appeal and prestige.
This record-breaking deal places Aberconway House as the second most expensive property ever sold in London, trailing behind the sale of 2-8a Rutland Gate for £210 million in 2020. Adar Poonawalla's investment underscores the Serum Institute's expansion strategy and its pursuit of global collaborations and opportunities.
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