Elder statesman and former minister of defense, Theophilus Danjuma, has acquired a 300-year-old hotel in London for N1 billion.
According to Bloomberg, the Kings Arms Hotel is a 14 room, 300-year-old inn next to Hampton Court Palace, which once housed Henry VIII, the king of England in 1509.
Hannatu Gentles, the second daughter of Nigerian billionaire, Theophilus Danjuma, told the publication that the family does not invest in trophy assets.
She said, “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,” Gentles, who is the chief operating officer of her father’s London-based family business.
“We invest in real estate in other jurisdictions, but in the UK, we always thought let’s stick to areas that we know.”
According to Bloomberg, aside the £2.4 million hotel, the Danjuma family has invested in more than 30 properties across three continents.
The publication revealed that the retired army general is now worth $1.2 billion.
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