{"id":646316,"date":"2019-06-27T10:29:52","date_gmt":"2019-06-27T10:29:52","guid":{"rendered":"
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Former Defence Minister, General Theophilu"},"modified":"2019-06-27T10:29:52","modified_gmt":"2019-06-27T10:29:52","slug":"general-ty-danjuma-buys-300-year-old-london-hotel-for-n1-1-billion","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2019\/06\/27\/general-ty-danjuma-buys-300-year-old-london-hotel-for-n1-1-billion\/","title":{"rendered":"General TY Danjuma buys 300-year old London hotel for N1.1 billion"},"content":{"rendered":"

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Former Defence Minister, General Theophilus Danjuma, has acquired Kings Arms Hotel, a 300-year-old inn next to London\u2019s Hampton Court Palace, once the home of Henry VIII for N1.1 billion.<\/p>\n

The hotel is poised to open soon after refurbishment, with rooms costing about 250 pounds a night. Guests can dine on traditional fare in the six restaurant, a reference to the monarch\u2019s many wives, or grab a pint on the terrace, reports Bloomberg<\/p>\n

The 80-year-old Nigerian is worth $1.2 billion, according to the Bloomberg Billionaires Index, with his family office managing a portion of that wealth, often through low-key holdings such as the 14-room hotel.<\/p>\n

\u201cWe never tend to look at trophy assets,\u201d said daughter Hannatu Gentles, the second of Danjuma\u2019s five children and chief operating officer of his London-based family office. \u201cWe\u2019re not going to head to Mayfair to buy a 15 million-pound apartment primarily because we are a yield business.\u201d<\/p>\n

Beyond the U.K., Danjuma own real estate in California and have bought and sold property in Singapore. Their family office also oversees private equity investments, trust funds and a venture capital arm that backs family-run art and film companies. The Danjumas own more than 30 properties worldwide, filings show.<\/p>\n

\u201cWe invest in real estate in other jurisdictions, but in the U.K. we always thought let\u2019s stick to areas that we know,\u201d Gentles said. Her father bought a residence in Singapore years ago, \u201cand it made sense then to buy some more,\u201d she said, adding they\u2019ve since sold the properties because of tax law changes.<\/p>\n

In addition to the Kings Arms Hotel, the Danjumas have developed residential properties this year in Esher and Wimbledon. They also own a boutique hotel in Lagos, serving beef carpaccio and lobster bisque in one of three dining areas and displaying works from the family\u2019s art firm.<\/p>\n

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