Nigerian billionaire businessman Femi Otedola has reportedly purchased a luxury mansion in London valued at £53 million.
According to a Bloomberg report, the 10-bedroom property is located in the upscale St John’s Wood district, a short distance from Regent’s Park. The mansion, which was said to have been bought late last year, reportedly features luxury amenities including a cinema, spa and cigar room.
The property was originally listed for sale at £75 million in 2020, according to previous media reports linked to one of the firms involved in its construction.
The report also noted that Otedola’s acquisition comes at a time when London’s luxury real estate market is experiencing a slowdown due to rising property taxes and the UK government’s move to remove certain tax advantages previously enjoyed by foreign residents.
