15042015Wed

Last updateWed, 15 Apr 2015 5pm

#Acquisition: Indian billionaire to buy Great Scotland Yard

An Abu Dhabi-based Indian billionaire Yusuff Ali is in talks to buy the iconic Great Scotland Yard in London

An Abu Dhabi-based Indian billionaire is in talks to buy the iconic Great Scotland Yard in London.

Kerala-born retail magnate M. A. Yusuff Ali is reportedly in “advanced negotiations” with the current owners of the property and is said to have offered in excess of £100 million for the building in Whitehall. 

The Grade II-listed property was the original home of the Metropolitan Police before its move to New Scotland Yard.  The site is being turned into a luxury 5-star hotel by the Galliard Group. 

According to the Sunday Times, Mr Ali, 59, is expected to finalize a deal for the property in the coming days.

Mr Ali, who is worth an estimated $2.5 billion, is best known as founder of the LuLu Group which operates a string of supermarkets across the Gulf Region as well as south India, Indonesia and Malaysia.

The businessman also has a wide variety of other interests, including investments in hotels and banks in India.  He also holds a 10% stake in the London-based trading company The East India Company. 

Great Scotland Yard was chosen in 1829 as the first home of the Met and has been featured in works by the likes of Charles Dickens and Arthur Conan Doyle for his Sherlock Holmes series.

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