Polish billionaire Dominika Kulczyk snaps up Knightsbridge property for £57.5m
Polish billionaire Dominika Kulczyk has reportedly snapped up a luxury property in Knightsbridge for £57.5m.
Kulczyk, one of the richest people in Poland, bought the Georgian redevelopment near Harrods from residential developer Mike Spink, after taking control of the Farringdon Property Trust, Bloomberg reported.
The deal signals a pickup in London’s luxury residential market transactions. The latest research by private bank Coutts showed that demand for luxury property was up in the fourth quarter of last year, with 10.1 per cent more houses sold than in the last three months of 2018.
However, the amount Kulczyk paid for the property was below the £65m valuation, according to reports.
Dominika Kulczky is the daughter of Jan Kulczyk, who was Poland’s richest man following a series of investments in the infrastructure, beer, oil and motor sectors after the collapse of communism.
Dominika and her brother Sebastian, who is the owner and chief executive of Kulczyk Investments, inherited much of their fathers $3.5bn fortune when he died in 2015.
Jan Kulczyk held a significant stake in Poland’s biggest telecom operator TPSA, now known as Orange Polska, after he bought shares in the company’s privatisation in 2000.
He was also a shareholder in Poland’s biggest oil refiner PKN Orlen.
At the time of his death he owned shares in chemicals group Ciech, energy companies Polenergia and Serinus Energy and a number of international oil and gas businesses.