December 13, 2023: Serum Institute of India CEO Adar Poonawalla has purchased a multi-million mansion, making the most expensive home sale in London in 2023, according to media reports. The mansion, Aberconway House, is a century-old property located near Hyde Park. The house was sold for a minimum of 138 million pounds or Rs 1,444.4 crore.
The property will be acquired by Serum Life Sciences, a UK subsidiary of the Poonawalla family’s Serum Institute of India. This deal will make Aberconway House the second-most expensive home ever sold in London, as per reports.
Further, reports state that Poonawalla has no plans to move to London. A CNBC TV18 report cited sources stating that it is a company guest house, which is useful for hosting events, donors, tech partners, and it has helped Serum group in accessing global opportunities that were not possible to do from India.
The most expensive residential transaction in London took place in January 2020 when 2-8a Rutland Gate was sold for 210 million pounds. As per a Financial Times report, the property was sold by the estate of the former Saudi Arabian Crown Prince Sultan bin Abdulaziz. It was revealed that the buyer was Hui Ka Yan, the founder and chair of Evergrande.
Serum Institute of India is a biotechnology company that became the world’s biggest vaccine manufacturer by producing low-cost vaccines for developing nations.
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