Theophilus Danjuma, a former
minister of defence, has acquired a 300-year-old hotel in London for N1
billion.
TY Danjuma, as he is popularly
referred to, is now worth $1.2 billion according to Bloomberg Billionaires
Index.
The latest acquisition of the
80-year-old retired army general is a 14-room inn in London.
The Kings Arms Hotel is a
300-year-old inn next to Hampton Court Palace, which once housed Henry VIII,
the king of England in 1509.
At present, the hotel is
undergoing renovation. Upon launch, a room is estimated to cost £250 per night.
 |
| Front view of the hotel |
Hannatu Gentles, the second
daughter of Nigerian billionaire, Theophilus Danjuma, says the family does not
invest in trophy assets.
“We never tend to look at trophy
assets. We’re not going to head to Mayfair to buy a 15 million-pound apartment
primarily because we are a yield business,” Gentles, who is the chief operating
officer of her father’s London-based family business, told Bloomberg.
“We invest in real estate in
other jurisdictions, but in the UK, we always thought let’s stick to areas that
we know.”
Asides the £2.4 million
(1,096,662,240) hotel, the family has invested in more than 30 properties
across three continents.
In 1998, Danjuma was awarded an
oil block by Sani Abacha, now deceased head of state.
He left the military in 1979 to
start his oil and shipping firm, NAL-Comet. He partnered with Total SA and
Petrelo Brasileiro SA on the block. His minority stake in the oil block is now
worth $450 million.
The family office also manages
private equity investments, trust funds and a venture capital arm that funds
film companies.
His charity work is done through
his foundation after he pledged to give away $100 million.
*£1 = N456
Click to signup for FREE news updates, latest information and hottest gists everyday
Advertise on NigerianEye.com to reach thousands of our daily users
No comments
Post a Comment
Kindly drop a comment below.
(Comments are moderated. Clean comments will be approved immediately)
Advert Enquires - Reach out to us at NigerianEye@gmail.com