Billionaire businessman Femi Otedola has acquired a mansion in London for £53 million (about $72 million), adding to recent high-value property transactions in the UK capital’s luxury real estate market, Bloomberg reports on Thursday.
The 10-bedroom property is located in St John’s Wood, a high-end district in London, a short distance from Regent’s Park.
Bloomberg reports that the purchase was completed late last year, according to a UK filing.
The property, built in 2016, reportedly includes luxury facilities such as a cinema, spa and cigar room. It was previously listed for £75 million in 2020, according to Bloomberg
Otedola is the chairman and majority shareholder of First HoldCo Plc, one of Nigeria’s largest financial services groups, with investments spanning energy, finance, shipping and insurance brokerage.
The deal highlights continued activity in London’s prime residential property market, despite pressure from higher property taxes and changes to tax incentives for foreign residents.
London’s high-end property market remains a key destination for ultra-wealthy global buyers, with luxury homes in areas such as St John’s Wood, Belgravia and Chelsea often attracting multimillion-pound deals despite fluctuations in the broader UK housing market.
The acquisition adds to Otedola’s portfolio of luxury assets and reinforces the long-standing appeal of London’s upscale neighbourhoods among wealthy Nigerian businessmen and executives.
In recent years, several Nigerian banking and business figures have been linked to high-value properties in the UK capital.
In 2025, Access Bank Chief Executive Officer Roosevelt Ogbonna reportedly acquired a £15 million property in Hampstead, an affluent London district often associated with wealthy foreign investors.
St John’s Wood, where Otedola’s new mansion is located, is regarded as one of London’s most exclusive residential areas, known for its detached luxury homes, privacy and proximity to Regent’s Park and the Lord’s Cricket Ground.
