Nigerian billionaire businessman Femi Otedola has acquired a luxury mansion in the upscale St John’s Wood area of London for £53 million (approximately $72 million), further expanding his portfolio of high-value international assets.
The transaction, first reported by Bloomberg was completed late last year, according to filings submitted in the United Kingdom.
Located in one of London’s most exclusive residential districts, the 10-bedroom mansion sits close to Regent’s Park and the iconic Lord’s Cricket Ground. The property is known for its privacy, security, and concentration of ultra-high-net-worth residents.
Mansion Specifications
Built in 2016, the mansion reportedly spans about 25,000 square feet and includes luxury features such as a private cinema, spa, cigar room, and other premium lifestyle amenities. The residence was previously listed for £75 million in 2020, suggesting the purchase was completed at a significant discount amid changing conditions in London’s luxury property market.
Otedola, 63, who is the chairman and majority shareholder of First HoldCo Plc has business interests also extend across energy, shipping, insurance brokerage, and investment sectors.
The acquisition highlights the continued attraction of London’s prime residential real estate market to wealthy international buyers, including African business elites, despite increased scrutiny on foreign property ownership, higher taxes on luxury homes, and evolving UK tax rules affecting non-domiciled residents.
St John’s Wood remains one of London’s most sought-after neighbourhoods, particularly known for its detached mansions, tree-lined streets, and proximity to central London. The area has long attracted financiers, celebrities, diplomats, and global investors seeking privacy and prestige.
Neither Otedola nor his representatives have publicly commented on the latest acquisition. However, the report has generated widespread discussion across Nigeria.
