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Vijay Mallya house: All about Vijay Mallya’s property investments

[ecis2016.org] While Vijay Mallya’s company United Breweries (UB) Group gained profits, the real estate enthusiast purchased some of the most high-value properties across the world, including islands and castles.

Vijay Mallya was often branded as ‘the King of Good Times’ for his flamboyant lifestyle. Before everything went haywire, Mallya, who is wanted in India for alleged fraud and money laundering charges involving his troubled carrier Kingfisher Airlines, gave stiff competition to Bollywood celebrities in terms of media coverage and publicity.

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Mallya was often compared to British entrepreneur Richard Branson. However, his troubles began following defaulted loans exceeding Rs 9,000 crores. Mallya subsequently left India in March 2016.

During his good times, the UB Group (United Breweries) chairman purchased a variety of super expensive houses from northern California’s Napa Valley to a condo in New York’s Trump Towers and a house in Johannesburg’s Nettleton Road. Despite all the allegations against him in India with some of his properties getting auctioned, Mallya still owns a multi-million-pound house in the UK, where he has been living with his family since leaving India.

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Vijay Mallya house: Cornwall Terrace property in London

 

 

The liquor baron currently lives in his UK house, located in one of central London’s prime hubs, Regent’s Park. The 18/19 Cornwall Terrace property lies minutes away from Madame Tussauds Wax Museum. Estimated to be worth millions of pounds, Mallya’s London house may soon be taken by the bank that gave loans to Mallya to purchase the ultra-premium property.

Considered as a ‘high class house for Mallya and his family members and UB Group corporate guests’, the Cornwall Terrace property, which was built in 1821-23 with the designs of architect Decimus Burton, is owned by Mallya through Rose Capital Ventures, a British Virgin Islands firm linked to his family trust.

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In January 2022, the UK High Court ruled against him over a dispute with the Union Bank of Switzerland (UBS). The HC refused Mallya’s request for a stay on repaying the UBS loan after he failed to meet a previous repayment deadline in April 2020. The five-year-period on a loan estimated to be 2.5 million British pound from the UBS expired in 2017.

 

 

Although the court order gave UBS an ‘immediate right to possession’ in 2019, the bank has not been able to take control due to difficulties caused by the Covid-19 pandemic.

The Mallya family is likely to hold this prime property after a British court said refinancing of the loans was a ‘permissible transaction’ as it meant investment in a prime London property.

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Vijay Mallya House: Ladywalk Mansion in London

Mallya and his family are believed to own many properties across the UK, including a large country house in Hertfordshire, north of London. Known as the Ladywalk Mansion, this country house lies 40 kms away from London. The property is a ‘large house near Tewin, a village outside Welwyn Garden City in Hertfordshire’.

Vijay Mallya House: Sausalito, California

Bought in 1987, the Sausalito property in 6 Bulkley Avenue is ‘one of the most prominent houses’ in the town, with views stretching from Belvedere to the Bay Bridge and San Francisco. Spread across 11,000 sq ft, the property was bought by Mallya for USD 1.2 million.

Vijay Mallya House: Clifton Estate, Cape Town

Mallya bought this Cape Town mansion in November 2010 for USD 8.4 million. Described by the Sunday Times (South Africa) as the ‘best house in Cape Town’, the property with sweeping views of the Clifton beach, is located on Nettleton Road. Mallya sold the property, which boasts a sauna, walk-in safe areas, gym, and garage space for four cars, in March 2014.

Vijay Mallya House: Trump Plaza Condo, New York

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In September 2010, Mallya bought a condo in Trump Plaza for USD 2.4 million. Mallya’s ‘Penthouse A’ is located at 167, East 61st Street, in the 37-storey skyscraper.

Vijay Mallya House: Le Grande Jardin, France

Known as Le Grande Jardin, this property was bought by Mallya in September 2008, for approximately USD 53-61 million. Located at the Island of Sainte-Marguerite, the largest of the four islands of Lérins, the Le Grande Jardin lies about half a mile offshore from the French Riviera town of Cannes.

Vijay Mallya House: Keillour Castle, Perthshire

Located in Perthshire, Scotland, the castle was purchased by Mallya in 2007.

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Vijay Mallya House: Devika, New Delhi

Mallya’s Delhi house is located at the national capital’s Sardar Patel Marg.

Vijay Mallya House: Niladri, Mumbai

Mallya’s sea-facing bungalow on Napean Sea Road, South Mumbai, is called Niladri.

Vijay Mallya House: Kingfisher Villa in Goa

 

Located at Candolim beach in Goa, the 12,350-sq ft Kingfisher Villa has been branded an Indian version of Elvis Presley’s Graceland. In 2017, a consortium of banks, led by the State Bank of India, sold this property for Rs 73 crores to recover dues from Mallya.

Header image source: Vijay Mallya’s Instagram account

Source: https://ecis2016.org/.
Copyright belongs to: ecis2016.org

Source: https://ecis2016.org
Category: Rent

Debora Berti

Università degli Studi di Firenze, IT

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