How This Indian Origin Businessman Turned UK’s Iconic Old War Office Into A Luxury Hotel

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posted on 10 months ago — updated on 1 second ago

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A whopping Rs 13 thousand crore were invested to prepare this super luxurious project.

During a morning stroll around the streets of London, an Indian businessman happened to spot an old, abandoned building in a dilapidated state. He got an idea instantly. He made the decision to purchase the building right away. This skyscraper is currently undergoing a super luxury project, and once it is finished, plans are in place to sell each unit for billions of rupees. You might be wondering whom we are talking about and why such a decision was taken in the blink of an eye. We are talking about the billionaire Hinduja family of India. They are one of the richest families of London, which is doing big businesses under the names Ashok Leyland, Gulf Oil Limited and IndusInd Bank. Sanjay Hinduja, a member of the third generation of the family, saw London’s famous heritage property Old War Office (OWO) while taking a morning walk one day and decided to buy it.

In 2015, Sanjay Hinduja purchased OWO from the British government. After that, he spent eight years renovating it and invested nine thousand crore to turn it into an ultra-luxury hotel. The Hinduja family purchased this property for Rs 3,973 crore from the British government. In this way, a whopping Rs 13 thousand crore were invested to prepare a super luxurious project.

The Hinduja family has recently completed its deal with Saudi Arabia and UAE. According to the report, the price of each flat to be built in OWO will start from Rs 42 crore and will go up to Rs 531 crore. The reason for this is that there will be a huge difference in the size of the flats built on this property. Hinduja family says that returns on investment (ROI) will start coming in the next 5 to 6 years.

This project calls for the construction of 85 opulent flats totaling 1.88 lakh square feet. A 120-room hotel with nine restaurants and three bars is also being constructed. By 2023, the Hinduja family’s net worth was estimated by Forbes to exceed $20 billion, or roughly Rs 1.65 lakh crore. This is the family’s first venture into real estate; they have previously worked in the steel, finance, and auto industries.