[ad_1]
The richest man in Asia has bought an English country club that appeared in two James Bond films for £ 57 million, adding a trophy asset to a global portfolio that includes the UK toy store Hamleys.
A Reliance Industries subsidiary of Mukesh Ambani has agreed a deal for Stoke Park, a 300-acre Georgian mansion in Buckinghamshire, which includes a luxury hotel and a golf club.
The acquisition adds glamor to the Ambani conglomerate, which is best known for its energy and telecommunications businesses in India. “You can see Windsor Castle from the golf course – it’s a trophy good,” said Charles McDowell, buying agent.
Stoke Park has been in the hands of the King family, owner of the healthcare company International Hospitals Group, since 1988. The family sold the estate in 2018 and originally intended a much higher price, according to two people with knowledge of the sale.
One person expected the property, which attracted the interest of buyers from China and the Middle East, as well as Ambani, to fetch “more than £ 100 million”.
Before opening as a luxury country club in 1908, Stoke Park was a private residence. Roarie Scarisbrick, a partner at buying agency Property Vision, said a potential buyer had considered turning the 49-room hotel into a house, but withdrew because “they didn’t want the reputational consequences” to close. the golf club and lay off staff.
Announcing the deal, Reliance said Stoke Park will continue to be a club for members and that it will “seek to improve the sports and leisure facilities at this heritage site, fully complying with local planning guidelines and regulations.” .
Ambani believes the property is good value for money, said a person close to the tycoon. “There will be an influx of funding,” they said.
The person added that its proximity to Heathrow meant Stoke Park could make a good corporate retreat for Reliance’s top executives.
Stoke Park’s 27-hole golf course is known to be the setting for “cinema’s most famous golf scene,” according to the estate’s website, in which James Bond of Sean Connery plays against the evil Auric Goldfinger, in the 1964 film.
A weekend round on the course costs £ 225.
Ambani has a net worth of $ 71.5 billion, making him the richest man in Asia, according to Bloomberg data. He inherited Reliance, the largest company in India, after the death of his father in 2002.
The acquisition of the historic property underscores Ambani’s efforts to transform Reliance from an oil refining-focused industrial group to a consumer-oriented business with a global footprint.
He has also wanted to enter prestigious world brands, especially with the Acquisition 2019 of the famous British toy retailer Hamleys for £ 68 million.
With Ambani, Reliance has diversified into retail, as India’s partner for brands like Marks and Spencer and Tiffany, as well as digital services with the 2016 launch of telecom operator Jio. Last year, Jio raised $ 20 billion from major global investors, including Facebook and Google.
However, energy continues to drive the group’s revenue.
In terms of hospitality, Reliance already has a stake in Oberoi Hotels, one of India’s leading luxury chains and said it was building a convention center and hotel complex in Bombay’s Bandra Kurla complex, an elegant district. business of financial capital.
Chester King, managing director of Stoke Park, said owning the estate was “a great honor” for his family, adding that he was “delighted that the new owners share the same respect for the incredible heritage.” of the club “.
“It was clear that this represents the regular activity of our members, customers and the local community.”
[ad_2]
Source link
