The garden at Rihanna's former villa in St John's Wood, West London. Photo: Aston Chase / Tony Murray Photography
The garden at Rihanna's former villa in St John's Wood, West London. Photo: Aston Chase / Tony Murray Photography
The garden at Rihanna's former villa in St John's Wood, West London. Photo: Aston Chase / Tony Murray Photography
The garden at Rihanna's former villa in St John's Wood, West London. Photo: Aston Chase / Tony Murray Photography

Rihanna's £27m former London home sold to Chinese buyer


Matthew Davies
  • English
  • Arabic

The former London mansion of the music star Rihanna has been sold to an overseas buyer from China for £27.5 million ($33.2 million).

Estate agent Savills and Aston Chase said the price set a record for the St John’s Wood housing market in West London.

The double-fronted, eight-bedroom house on St John’s Wood Park covers 588 square metres.

Built in 1844 by local tradesman William Holme Twentyman for De Beers diamond tycoon Daniel Francis, the property was designed by renowned architect John Shaw Junior, under the auspices of historic St John's Wood landowner Walpole Eyre.

'An extremely special house'

Main reception room. Photo: Aston Chase / Tony Murray Photography
Main reception room. Photo: Aston Chase / Tony Murray Photography

"This is an extremely special house, the only one of royal architect John Shaw’s original villas on St John’s Wood Park to have survived into the 21st century," said Stephen Lindsay, head of North London at Savills.

"The substantial price achieved firmly underlines the value and quality of this unique trophy home and the enduring appeal of St John’s Wood with buyers from both the UK and from around the world.

Rihanna said she loved to create ice cream desserts in the kitchen. Photo: Aston Chase / Tony Murray Photography
Rihanna said she loved to create ice cream desserts in the kitchen. Photo: Aston Chase / Tony Murray Photography

Rihanna used the mansion as her base for two and a half years while renting in London. Several media interviews and Instagram stories were filmed in the house at the time, including some that related to her enjoyment of making ice cream desserts in the large kitchen, the huge garden for relaxation, her love of walking around the local area and even how she shopped at Sainsbury's.

The pop star made such a celebrity impact on the St John's Wood area that the house is still marked on Google Earth as “Rihanna’s home”.

The dining room. Photo: Aston Chase / Tony Murray Photography
The dining room. Photo: Aston Chase / Tony Murray Photography

Planning permission

The property itself has been fully refurbished and modernised and has a number of reception and family rooms, formal and casual dining rooms, a study/library, family kitchen and a gym comprising a weights room and exercise studio.

The rear opens on to a 6.5m-long terrace, which leads to the huge garden.

What could have been of interest to the buyer is the detailed planning permission that the mansion has to expand by almost another 930 sq m, which could house a swimming pool and spa with all the associated luxury amenities.

The sun terrace. Planning permission is in place to enlarge the villa by 930 square metres. Photo: Aston Chase / Tony Murray Photography
The sun terrace. Planning permission is in place to enlarge the villa by 930 square metres. Photo: Aston Chase / Tony Murray Photography

Plan B

That the villa was sold to a buyer from China was no surprise to the selling agents.

“Notwithstanding the current challenging market conditions, this sale is indicative of the surge in demand from Chinese buyers for super-prime homes in London," said Mark Pollack, co-founding director of Aston Chase.

"As a result of an inability to travel during the pandemic, many wealthy Chinese and Hong Kong residents are prioritising a ‘Plan B’ in the eventuality of another unforeseen event leading to the Chinese government restricting movement.

"London is still widely regarded as the best city in the world from a cultural, educational, legal system and political stability perspective, so for those wanting to establish a home in a safe destination it is an obvious choice in the knowledge that they will also potentially benefit from meaningful capital growth over a period of time."

Rihanna lived in the West London villa for two and a half years. Photo: Aston Chase
Rihanna lived in the West London villa for two and a half years. Photo: Aston Chase

Barcelona 3
Messi (27’, 32’, 87’)

Leganes 1
El Zhar (68’)

The Vines - In Miracle Land
Two stars

THE BIO

Favourite car: Koenigsegg Agera RS or Renault Trezor concept car.

Favourite book: I Am Pilgrim by Terry Hayes or Red Notice by Bill Browder.

Biggest inspiration: My husband Nik. He really got me through a lot with his positivity.

Favourite holiday destination: Being at home in Australia, as I travel all over the world for work. It’s great to just hang out with my husband and family.

 

 

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Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

ODI FIXTURE SCHEDULE

First ODI, October 22
Wankhede Stadium, Mumbai

Second ODI, October 25
Maharashtra Cricket Association Stadium, Pune

Third ODI, October 29
Venue TBC

Tips for job-seekers
  • Do not submit your application through the Easy Apply button on LinkedIn. Employers receive between 600 and 800 replies for each job advert on the platform. If you are the right fit for a job, connect to a relevant person in the company on LinkedIn and send them a direct message.
  • Make sure you are an exact fit for the job advertised. If you are an HR manager with five years’ experience in retail and the job requires a similar candidate with five years’ experience in consumer, you should apply. But if you have no experience in HR, do not apply for the job.

David Mackenzie, founder of recruitment agency Mackenzie Jones Middle East

How to protect yourself when air quality drops

Install an air filter in your home.

Close your windows and turn on the AC.

Shower or bath after being outside.

Wear a face mask.

Stay indoors when conditions are particularly poor.

If driving, turn your engine off when stationary.

Thor: Ragnarok

Dir: Taika Waititi

Starring: Chris Hemsworth, Tom Hiddleston, Cate Blanchett, Jeff Goldblum, Mark Ruffalo, Tessa Thompson

Four stars

The specs

Engine: 8.0-litre, quad-turbo 16-cylinder

Transmission: 7-speed auto

0-100kmh 2.3 seconds

0-200kmh 5.5 seconds

0-300kmh 11.6 seconds

Power: 1500hp

Torque: 1600Nm

Price: Dh13,400,000

On sale: now

Key figures in the life of the fort

Sheikh Dhiyab bin Isa (ruled 1761-1793) Built Qasr Al Hosn as a watchtower to guard over the only freshwater well on Abu Dhabi island.

Sheikh Shakhbut bin Dhiyab (ruled 1793-1816) Expanded the tower into a small fort and transferred his ruling place of residence from Liwa Oasis to the fort on the island.

Sheikh Tahnoon bin Shakhbut (ruled 1818-1833) Expanded Qasr Al Hosn further as Abu Dhabi grew from a small village of palm huts to a town of more than 5,000 inhabitants.

Sheikh Khalifa bin Shakhbut (ruled 1833-1845) Repaired and fortified the fort.

Sheikh Saeed bin Tahnoon (ruled 1845-1855) Turned Qasr Al Hosn into a strong two-storied structure.

Sheikh Zayed bin Khalifa (ruled 1855-1909) Expanded Qasr Al Hosn further to reflect the emirate's increasing prominence.

Sheikh Shakhbut bin Sultan (ruled 1928-1966) Renovated and enlarged Qasr Al Hosn, adding a decorative arch and two new villas.

Sheikh Zayed bin Sultan (ruled 1966-2004) Moved the royal residence to Al Manhal palace and kept his diwan at Qasr Al Hosn.

Sources: Jayanti Maitra, www.adach.ae

'Saand Ki Aankh'

Produced by: Reliance Entertainment with Chalk and Cheese Films
Director: Tushar Hiranandani
Cast: Taapsee Pannu, Bhumi Pednekar, Prakash Jha, Vineet Singh
Rating: 3.5/5 stars

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Porsche Taycan Turbo specs

Engine: Two permanent-magnet synchronous AC motors

Transmission: two-speed

Power: 671hp

Torque: 1050Nm

Range: 450km

Price: Dh601,800

On sale: now

When Umm Kulthum performed in Abu Dhabi

  

 

 

 

Known as The Lady of Arabic Song, Umm Kulthum performed in Abu Dhabi on November 28, 1971, as part of celebrations for the fifth anniversary of the accession of Sheikh Zayed bin Sultan Al Nahyan as Ruler of Abu Dhabi. A concert hall was constructed for the event on land that is now Al Nahyan Stadium, behind Al Wahda Mall. The audience were treated to many of Kulthum's most well-known songs as part of the sold-out show, including Aghadan Alqak and Enta Omri.

 
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What is an ETF?

An exchange traded fund is a type of investment fund that can be traded quickly and easily, just like stocks and shares. They come with no upfront costs aside from your brokerage's dealing charges and annual fees, which are far lower than on traditional mutual investment funds. Charges are as low as 0.03 per cent on one of the very cheapest (and most popular), Vanguard S&P 500 ETF, with the maximum around 0.75 per cent.

There is no fund manager deciding which stocks and other assets to invest in, instead they passively track their chosen index, country, region or commodity, regardless of whether it goes up or down.

The first ETF was launched as recently as 1993, but the sector boasted $5.78 billion in assets under management at the end of September as inflows hit record highs, according to the latest figures from ETFGI, a leading independent research and consultancy firm.

There are thousands to choose from, with the five largest providers BlackRock’s iShares, Vanguard, State Street Global Advisers, Deutsche Bank X-trackers and Invesco PowerShares.

While the best-known track major indices such as MSCI World, the S&P 500 and FTSE 100, you can also invest in specific countries or regions, large, medium or small companies, government bonds, gold, crude oil, cocoa, water, carbon, cattle, corn futures, currency shifts or even a stock market crash. 

Updated: October 30, 2023, 11:31 AM