Stoke Park in Buckinghamshire has been bought to Asia’s richest businessman, Mukesh Ambani, for £57 million.
The posh resort, spa, golf & nation membership, which is situated seven miles from Heathrow, was purchased by a subsidiary of Ambani’s firm, Reliance Industries.
Ambani, 64, has constructed up a fortune of over $70 billion by means of vitality and telecoms companies after inheriting the corporate from his father in 2002.
Stoke Park has been within the palms of the King household, house owners of healthcare firm Worldwide Hospitals Group, since 1988. The property was put up on the market in 2018 and was initially anticipated to promote for greater than £100m. Though there was curiosity from patrons from China and the Center East, Ambani’s bid was profitable regardless of being nearly half that worth.
Saying the deal, a spokesperson for Reliance mentioned that Stoke Park would stay a members’ membership and that it will “look to reinforce the sports activities and leisure services whereas totally complying with the planning tips and native laws”.
Chester King, managing director of Stoke Park, mentioned: “It has been an awesome honour for my household to have been the house owners and custodians of Stoke Park over the previous 33 years. I’m delighted that the brand new house owners share the identical respect for the membership’s unimaginable heritage, its values and longer-term imaginative and prescient and I sit up for working carefully with them. As quickly as we met with Reliance it was clear that this represents enterprise as standard for our members, prospects, and the area people.”
Along with the 27-hole Harry Colt designed golf course, services on the 300-acre property embody a 49-room five-star resort, a spa and leisure centre, three eating places, bars and lounges, 13 tennis courts and 14 acres of personal gardens.
The acquisition of Stoke Park is a part of a wider transfer to rework Reliance from an industrial group centred on oil refining in Asia to a extra consumer-facing enterprise with a worldwide presence. Ambani has lately expanded his portfolio in leisure and retail after shopping for fairness in Oberoi Inns in India and the latest buy of Hamleys toy retailer.