December 12th 2023.
Adar Poonawalla, the head of the world’s largest vaccine manufacturer and known as the 'Vaccine Prince', has just reached an agreement to purchase London's most expensive property this year. As per the Financial Times report, a Mayfair mansion spanning 25,000 square feet is set to be purchased for approximately £138 million.
Dominika Kulczyk, daughter of the late Jan Kulczyk, Poland's wealthiest man, finalized the deal with Poonawalla. The property is called Aberconway House and it is an expansive 1920s residence close to Hyde Park. It is to be sold to Serum Life Sciences, a UK-based subsidiary of the Poonawalla family's Serum Institute of India, according to individuals familiar with the transaction.
The price of Aberconway House makes it the second priciest home ever sold in London and the biggest deal of the year, as reported by high-end real estate agents. The most expensive house sale in London was 2-8a Rutland Gate, sold in January 2020 for a record-breaking £210 million. Its purchaser was revealed to be Hui Ka Yan, the founder and chair of Evergrande, although initially, the buyer's identity wasn't revealed.
An individual close to Serum Life Sciences mentioned that the Poonawalla family has no intention of permanently moving to the UK. Instead, the house will serve as a base for the company and a residence for the family during their visits to the UK. This London acquisition aligns with their multimillion-pound investments in vaccine research and manufacturing facilities near Oxford. Additionally, in 2021, the family committed £50 million to Oxford University for the construction of the Poonawalla Vaccines Research Building.
It's clear that Adar Poonawalla and the Poonawalla family are continuing to make major investments in the medical field. Just recently, Poonawalla Fincorp recorded its highest ever PAT Of ₹ 230 crore in Q2FY24. We can expect to see more of these investments in the future.
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