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Mittal buy his third property for 70 million pounds in London |
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Tuesday, 24 June 2008 |
Indian steel tycoon Lakshmi Mittal has bought his third property for 70 million pounds in London''s most expensive street nicknamed 'Billionaire's Row', a news report said today.
Britain's richest man, whose fortune is estimated at 27 billion pounds, already owns two large homes in Kensington Palace Gardens, where the late Princess Diana spent some of her last years.
It has now emerged that the Mittal family, which owns 44 per cent of steel giant ArcelorMittal, has bought another home from the Crown Estate just a month after the 58-year-old tycoon bought Britain's most expensive home for 117 million pounds, the Daily Mail said today.
The British daily said hedge fund tycoon Noam Gottesman sold him a house on Palace Green, an extension of Kensington Palace Gardens, next to the Israeli embassy.
Mittal, who in March 2008 was named as the world's fourth wealthiest person by Forbes Magazine, lives in a home in Kensington Palace Gardens which he bought for 57 million pounds four years ago and is three times bigger than his latest acquisition.
"The Mittals have carried substantial improvements to their main home, which is probably the largest private house in central London after Buckingham Palace," Noel de Keyzer, a director at Savills which specialises in the top end of the London market, was quoted as saying by the daily.
He said the Indian tycoon had already raised the value of his main property on the street. "I would put its current value at close to 250 million pounds," he said.
The latest buy joins Mittal's ever-expanding property portfolio including a 40 million pounds home on The Bishops Avenue in Barnet. A spokesman for Arcelor Mittal declined to comment, the report said.
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Last Updated ( Sunday, 13 July 2008 )
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