A 300-year-old hotel in London has been purchased by a former minister of defense, Theophilus Danjuma for N1 billion.
The Bloomberg Billionaires Index has tagged TY Danjuma’ worth at $1.2 billion.
Naija News understands that the new property of the ex-defense minister 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.”
Source: Naija News