After Hamleys, Mukesh Ambani Acquires Britain's Iconic Heritage Stoke Park For $79 mn
Reliance Industrial Investments and Holdings said it will enhance the sports and leisure facilities at the heritage site, while fully complying with the planning guidelines and local regulations
Reliance Industries Limited led by India’s richest man Mukesh Ambani has bought Britain’s iconic country club and luxury golf resort for $79 million or £57 million (INR 592 crore).
A wholly owned unit of Reliance Industries–Reliance Industrial Investments and Holdings–will purchase Stoke Park, which owns and manages a hotel, sports and leisure facilities in Buckinghamshire, for £57 million ($79 million), said an exchange filing late on Thursday. The acquisition will further add to Reliance's consumer and hospitality assets.
This second biggest acquisition by Reliance in Britain, after the former threw a life support at iconic toy store, Hamleys in 2019 by acquiring it for about INR 620 crore to add to its retail footprint.
The acquisition will further add to Reliance’s consumer and hospitality assets. Two James Bond films—Goldfinger in 1964 and Tomorrow Never Dies in 1997—were shot at this iconic luxury club.
Reliance Industrial Investments and Holdings said it will enhance the sports and leisure facilities at this heritage site, while fully complying with the planning guidelines and local regulations. Earlier, the subsidiary has also pumped in capital in Oberoi Hotels (EIH Ltd).
In recent years, RIL has invested over $3.3 billion in acquisition with around 14 per cent in retail, 80 per cent in technology, media and telecom (TMT) sector, and 6 per cent in energy.
Stoke Park estate has a recorded history of over 900 years and was used as private residence till 1908. Currently the estate houses 49 luxury bedrooms and suites, a 27 hole championship golf course, 14 acres of private gardens and 13 tennis courts.
Lately, the UK and more specifically London has been an idle place for investment or spending holidays for Indian billionaires. Few weeks back, Adar Poonawalla, chief executive officer of the Serum Institute of India, agreed to rent a property in Mayfair for about £50,000 ($69,000) a week.