Former defence chief, Gen. Theophilus Danjuma (rtd), has acquired a 300-year-old hotel in London for N1 billion.
According to Bloomberg Billionaires Index, the retired general is now worth $1.2 billion.
The 300-year-old Kings Arms Hotel is a 14-room inn, sitting next to Hampton Court Palace, which once housed Henry VIII, the king of England in 1509.
Front view of hotel
A room at the hotel which is already undergoing renovation is expected to cost £250 per night, upon launch.
“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,” Hannatu 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.”
Hotel sideview
Asides the £2.4 million (1,096,662,240) hotel, the family has invested in more than 30 properties across three continents.
