Adar Poonawalla acquires London's priciest mansion for Rs.138M

Indian billionaire Adar Poonawalla has reportedly agreed to acquire Aberconway House, a mansion near Hyde Park in London, for ?138 million or Rs 14.4 billion. The Financial Times cited sources revealing that this is the most expensive home sold in the city this year. The 25,000 square foot property is currently owned by Dominika Kulczyk, daughter of the late Polish businessman Jan Kulczyk, the wealthiest man in Poland during his lifetime. The acquisition is set to be made by Serum Life Sciences, a privately held UK subsidiary of the Poonawalla family's Serum Institute of India. Although the Poonawalla family has no plans to permanently relocate to the UK, the mansion will serve as a base for the company and family during their visits to the country, according to the report. This purchase is poised to become the second-most expensive home ever sold in London. Serum Life Sciences, in 2021, 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. Adar Poonawalla, who graduated from the University of Westminster in London, joined Serum Institute in 2001. In 2011, he took over as CEO from his father, Cyrus Poonawalla, whose net worth is estimated at $22.1 billion, placing him among India's wealthiest individuals. Serum Institute, headquartered in Pune, is the world's largest producer of vaccines. The Poonawalla family also holds a majority stake in the listed financial services firm Poonawalla Fincorp. In a similar high-profile real estate deal, earlier this year, Indian billionaire Ravi Ruia purchased a London mansion linked to Russian property investor Andrey Goncharenko for Rs 12 billion. The Hanover Lodge mansion, located at 150 Park Road and overlooking Regent?s Park, was acquired by the family office of Ruia, co-owner of investment firm Essar Group, marking one of the capital?s significant residential transactions in recent years, as reported by Bloomberg.