Nigerian billionaire businessman Femi Otedola has acquired a luxury mansion in London for £53 million (approximately $72 million), underscoring continued demand for prime real estate in the UK capital.
The 10-bedroom property is located in St John’s Wood, one of London’s most exclusive residential neighbourhoods, known for its privacy, high-end detached homes and proximity to Regent’s Park and the iconic Lord’s Cricket Ground.
According to reports, the transaction was completed late last year, as indicated in a UK property filing. The mansion, built in 2016, features an array of luxury amenities including a private cinema, spa and cigar room. The property had previously been listed for £75 million in 2020, reflecting a significant price adjustment before the eventual sale.
Otedola, who serves as chairman and majority shareholder of First HoldCo Plc, is one of Nigeria’s most prominent business figures, with investments spanning energy, finance, shipping and insurance brokerage.
The acquisition highlights sustained activity in London’s high-end property market despite ongoing pressures from increased property taxes and changes to tax incentives affecting foreign buyers. Prime locations such as St John’s Wood, Belgravia and Chelsea continue to attract ultra-wealthy investors from across the globe.
Otedola’s latest purchase adds to his portfolio of luxury assets and reflects the enduring appeal of London’s upscale neighbourhoods among affluent Nigerian executives and business leaders.
In recent years, several high-profile Nigerian figures have been linked to premium property acquisitions in the UK capital. Notably, Roosevelt Ogbonna, Chief Executive Officer of Access Bank, reportedly acquired a £15 million property in Hampstead in 2025, further illustrating the trend of Nigerian investment in London’s luxury real estate market.
St John’s Wood remains a preferred destination for elite buyers, offering a blend of exclusivity, security and accessibility within one of the world’s most competitive property markets.
