Otedola acquires £53m London mansion

Nigerian billionaire businessman Femi Otedola has reportedly strengthened his presence in London’s elite property market with the acquisition of a £53 million mansion in one of the city’s most exclusive neighbourhoods.

According to Bloomberg, the transaction—completed late last year—saw Otedola purchase a 10-bedroom luxury residence in St John’s Wood, a high-end district located near Regent’s Park.

The property, built in 2016, is said to feature premium amenities including a private cinema, spa facilities, and a cigar room, reflecting the ultra-luxury standard of homes in the area. It was previously listed for £75 million in 2020.

The acquisition places Otedola among a growing list of global high-net-worth individuals investing in London’s prime real estate market, which continues to attract wealthy buyers despite tax pressures and shifting regulations in the UK property sector.

St John’s Wood remains one of London’s most prestigious residential enclaves, known for its privacy, tree-lined streets, and proximity to landmarks such as Regent’s Park and Lord’s Cricket Ground.

Otedola, who chairs First HoldCo Plc, maintains a diversified business portfolio spanning energy, finance, shipping, and insurance brokerage, and is regarded as one of Nigeria’s most prominent industrialists.

The deal also underscores a continuing trend of Nigerian business elites acquiring high-value properties in London. In recent years, several top executives, including banking chiefs, have been linked to multimillion-pound purchases in the UK capital’s luxury districts.