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Sharifs own property worth billions in London

* Flagship Investments Ltd’s holdings, Sharif family residence valued at over Rs 2.7 billion
* Company owns real estate in high-end locations

LAHORE: The Sharifs own property worth more than 20 million pounds (Rs 2.7 billion) in and around Central London, Daily Times has learnt. Of these, the Sharif family residence, three flats at 17 Avenfield House, 118 Park Lane alone are worth around 12 million pounds (Rs 1.6 billion).

According to documents available to Daily Times, Flagship Investments Limited, one of the companies run by the Sharif family in London, owns property worth around 10 million pounds in Central London. This does not include the value of the company’s offices. Hasan Nawaz Sharif, the son of PML-N chief Nawaz Sharif, is listed as the director of company on official documents.

Luxury residences: According to its website, the company refurbishes and redevelops luxury residential properties in top end Central London locations. Sought after properties in Mayfair, Knightsbridge, Kensington and Bayswater are their primary focus.

The company’s address listed on the website is Stanhope House, Stanhope Place, Marble Arch – one of the city’s priciest neighbourhoods. However, according to documents seen by Daily Times, the company moved to Tower Bridge House on St Katherine’s Way in November 2007 – a much more upscale property located near the bank of the River Thames.

Properties: The company’s website lists several properties, which include Flat 8, Burwood Place – London W2, worth 700,000 pounds (Rs 96.6 million); Flat 9, Burwood Place – London W2, worth 900,000 pounds (Rs 124.2 million); 10 Duke Mansions, Duke Street, London W1, worth 1,495,000 pounds (Rs 206.31 million); Flat 12a, 118 Park Lane, Mayfair – London SW1, worth 475,000 pounds (Rs 65.55 million); Flat 2, 36 Green Street – London W1, worth 800,000 pounds (Rs 110.4 million); and, 117 Gloucester Place, London W1 (value not listed). The website also features a piece of real estate near the Buckingham Palace, which is valued at around 4,450,000 pounds. In addition, one of the properties listed on the website – 841 Neil Gwynne House, Slone Avenue – is said to be the residence of one Waqar Ahmed, listed on the documents as the Company Secretary of Flagship Investments Limited.


2 thoughts on “Sharifs own property worth billions in London”

  1. Hasan Nawaz sole owner of multi-million pound London business: spokesman
    * Nawaz Sharif’s son paid millions of pounds in taxes to UK

    LAHORE: No Sharif family member other than Hasan Nawaz owns Flagship Investments Ltd and the premises being used as the company’s offices are rented, said a Sharif family spokesperson in a press statement.

    Issued in reply to an article (Sharifs own property worth billions in London, Daily Times, December 24, 2009), the release points out that Hasan Nawaz “has paid millions of pounds in taxes” to the UK tax authorities as a resident and has even been featured in the Who’s Who of Britain’s Young Business Elite.

    The release also states that the offices in Tower Bridge House are of a multinational auditing and accounting firm and do not belong to the company. However, the address for Hasan Nawaz Sharif, as listed in the 2009 edition of the Who’s Who of Britain’s Young Business Elite – a copy of which was attached to the Sharifs’ statement – is indeed ‘Tower Bridge House, St Katherine’s Way, London’, contrary to the spokesman’s claims.

    The statement also claims, “a property near Buckingham Palace valued at 4,450,000 pounds has nothing to do with the company”. It may be noted that the said property is still listed on the company website even as this report is being filed.

    The statement does not contradict the facts of the published report in any way and concedes that most of the information contained in it already exists in the public domain.\12\25\story_25-12-2009_pg7_2

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