An Indian businessman has made headlines by purchasing Aberconway House, one of the most iconic and expensive mansions in London. This property, acquired for ₹1,446 crore, is now the second most expensive residential property in London’s history. The buyer is none other than Adar Poonawalla, CEO of the Serum Institute of India, the world’s largest vaccine manufacturer.
Built in the 1920s, Aberconway House is steeped in history. It was previously owned by Dominika Kulczyk, the daughter of Poland’s wealthiest businessman, Jan Kulczyk. In 2023, it became the most expensive property sold in London that year when the Poonawalla family purchased it.
The property was acquired through the British division of the Serum Life Sciences group. According to a report by Financial Times, the Poonawalla family intends to use the mansion during their visits to the UK and for certain business purposes. However, the family has clarified that they have no plans to settle in the UK permanently.
Aberconway House has now secured its place as London’s second most expensive residential property. The record for the costliest property sale in London still belongs to Saudi Arabia’s former Crown Prince Sultan bin Abdulaziz, who sold a property in 2020 for an astounding ₹19,000 crore. Nevertheless, Adar Poonawalla’s acquisition stands out as the most expensive property transaction of 2023 in London.
Adar Poonawalla is the son of Cyrus Poonawalla, the founder of the Serum Institute of India. He took over as the CEO in 2011 and has been instrumental in elevating the company to global prominence. During the COVID-19 pandemic, under his leadership, the Serum Institute collaborated with AstraZeneca and Oxford University to produce the Covishield vaccine, which was distributed to over 70 countries.
Adar’s vision and business acumen have not only advanced India’s pharmaceutical industry but also established his family as global business leaders.
