Covid Vaccine Maker Adar Poonawalla Rents London Mansion For A Whopping Rs 50 lakh A Week. Check Details Of The Property

The deal is expected to push the battered luxury homes market in central London, which has been hit by a combination of Brexit and the pandemic.

Serum Institute of India's CEO Adar Poonawalla gestures during a press conference in Pune. FILE PIC/AFP

As the third wave of the deadly viral disease is sweeping through the world, the head of the world’s largest vaccine manufacturer is believed to be renting an exclusive property in Mayfair for a record cost at 50,000 pounds ($69,000 - Rs 50 lakh) a week.

The business tycoon is none other chief executive officer at the Serum Institute of India Ltd Adar Poonawalla, who is leasing a property in the London neighbourhood. Also Read: 'Buy Depreciating Asset With Appreciating Asset': Twitter Has A Field Day As Tesla Allows Customers To Pay By Bitcoin

What’s the property?

As per the Bloomberg report, the CEO is leasing the house on one of the district’s most sought after roads from Polish billionaire Dominika Kulczyk. It is one of the largest mansions in the London neighborhood and the dimension of the house is about 25,000 square feet (2,322 square meters), the equivalent of about 24 average English homes.

A guest house is attached with the mansion with “secret gardens,” which can be only accessed by residents.

The deal is expected to push the battered luxury homes market in central London, which has been hit by a combination of Brexit and the pandemic. As per LonRes, a property data company, rents have dwindled 9.2 per cent in the past five years in Mayfair, according to.

Serum Institute has emerged as one of the top companies spearheading the production of millions of doses of AstraZeneca Plc’s Covid-19 vaccine. The CEO has strong connections to the UK and studied at London’s University of Westminster. Earlier, Poonawalla failed a bid to buy the Grosvenor Hotel in Mayfair and turn part of it into a home.

In 2016 interview, the businessman has expressed desire in owing a second home in Britain

Poonawalla belongs to one of the world’s richest families, which has a $15 billion fortune, the majority of its business comes from the vaccination firm, according to the Bloomberg Billionaires Index.