Udayavni Special

Adar Poonawala rents a property in London at Rs 50 lakh per week


Team Udayavani, Mar 25, 2021, 2:01 PM IST

Source: Twitter

Adar Poonawala, Chief executive of Serum Institue of India (SII) has entered a rent agreement for a property in London’s exclusive Mayfair area for a record amount of $69,000 which is approximately Rs. 50 lakh a week.

According to a Bloomberg report, he is leasing the home from Polish billionaire Dominika Kulczyk and the property is known to be the largest residences in the neighbourhood. It measures about 25,000 square feet and has an adjoining guest house with access to one of the ‘secret gardens’ of Mayfair.

Adar Poonawalla, son of Cyrus Poonawalla, has failed in a bid to buy the Grosvenor Hotel in Mayfair.

The deal comes in handy to boost the luxury homes market in London which has taken a hit due to Brexit and the coronavirus pandemic.
As per reports, rents in Mayfair have dropped 9 percent in the last five years.

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