Iconic Building Lincoln House [Former Maharajah Palace and US embassy ] sold to business tycoon $113m
The Lincoln House: biggest real estate deal in Mumbai In what probably is, one of the largest real estate Deals in India’s financial capital, the Poonawalla family, owners of biotech major Serum Institute of India, has bought the iconic Lincoln House in the posh Breach Candy area of Mumbai for about [£ 96 million / $113million] The deal was signed between the Poonawalla family and the US Consulate — the current owners of Lincoln House ,including the transfer of a 900-year lease on the property to the family. Negotiations had been going on for more than a month and at the end month, a deal transpired” Adar Poonawalla, CEO, Serum Institute .The Poonawalla family, also attempted to purchase London’s 420 bedrooms Grosvenor House hotel last year, currently in the possession of the large US hotel chain Marriott International Inc . The Lincoln House, originally known as the Wankaner House, was owned by the Maharaja of Wankaner, a princely state near Rajkot ...