The Aberconway House, located in London, stands as one of the oldest and most prestigious mansions in the city. In 2023, it claimed the title of the most expensive house on the market, listed for sale at a staggering GBP 138 million (INR 1441 crore approximately). The latest development reveals that the mansion has been acquired by none other than Adar Poonawalla, CEO of Serum Institute of India (SII).
According to a CNBC report, the luxurious London residence will be purchased under the umbrella of Serum Life Sciences, a UK subsidiary of the Poonawalla family-owned Serum Institute of India. This acquisition will position Aberconway House as the second-most expensive bungalow ever sold in London, marking a significant milestone in the city’s real estate history.
Adar Poonawalla intends to utilize the mansion as a base for both his company and family activities while in the UK. Despite the hefty price tag of INR 1,446 crore, Poonawalla has clarified that he has no plans to relocate to London permanently. Instead, the mansion will serve as a company guest house, facilitating events, hosting donors, and engaging with tech partners. This strategic move is expected to enhance Serum’s global outreach and unlock opportunities that were previously inaccessible from India.
The Aberconway House, built between 1920 and 1922 in a neo-Georgian architectural style, boasts a rich history. Originally owned by Henry Duncan McLaren, Baron Aberconway, a renowned industrialist of his time, the mansion spans an impressive 22,788 square feet. Additionally, it features an adjoining guest house and grants access to one of Mayfair’s coveted Secret Gardens, adding to its allure and exclusivity.
In terms of real estate transactions, Poonawalla’s acquisition ranks as the second-largest deal for a London mansion, falling short only to Hui Ka Yan’s purchase of 2-8a Rutland Gate for GBP 210 million in January 2020. Another notable transaction in 2023 was the GBP 113 million acquisition of Hanover Lodge in Regent’s Park by Essar Group billionaire Ravi Ruia, previously owned by Russian property investor Andrey Goncharenk.