Femi Otedola Buys £53 Million St John’s Wood Mansion
Femi Otedola reportedly paid £53 million for a 10-bedroom mansion in St John’s Wood, putting another ultra-prime London address in the hands of a billionaire already known for large-scale bets. The purchase lands in a district near Regent’s Park that keeps drawing wealthy buyers even as luxury housing faces higher taxes, costlier borrowing, and changes to UK tax rules.
£53 million in St John’s Wood
£53 million is the reported price attached to the London property, which sits in northwest London and comes with a private cinema, spa facilities, and a dedicated cigar room. Those features place the deal squarely in the top tier of the city’s residential market, where buyers are often chasing privacy, space, and trophy assets rather than simple square footage.
10 bedrooms is the headline count inside the house, and the scale helps explain why the property could command such a price even after it had previously been listed for around £75 million in 2020. The gap between that earlier asking level and the reported deal suggests the house changed hands below its former listing price, a sign of how pricing can move in London’s high end without changing the asset’s status.
Otedola and Geregu Power
£1.3 billion is the rough level Otedola’s net worth fell to after he sold a large portion of his stake in Geregu Power at a discount to the company’s market value, following a decline of about $200 million. That context matters because the mansion buy sits alongside a recent shift in his financial profile, not apart from it. He remains chairman of Geregu Power, and the purchase keeps his name attached to one of London’s most exclusive postal codes.
“completely and utterly false” was Otedola’s description of claims that he helped finance construction of the Dangote Petroleum Refinery. The denial adds a second track to the story: while his reported property purchase points to continued cash deployment into prestige assets, he has also been pushing back against a separate financing allegation tied to Aliko Dangote and the refinery project.
London’s Luxury Pressure
2020 was the last time the mansion was publicly listed, at around £75 million, before this week’s reported acquisition at about £53 million. That sequence leaves London’s top end with a familiar contradiction: the city still pulls in international buyers seeking long-term wealth preservation, yet the market is operating under pressure from taxes, borrowing costs, and rule changes affecting wealthy foreign residents.
For buyers in the same bracket, the practical takeaway is straightforward. The reported deal shows that trophy stock can still clear, but pricing has to work against a tougher backdrop than it did when the house was first offered. For anyone watching the London prime segment, the next signal will come from whether other high-value homes near Regent’s Park move on similar terms.
