Late Access Bank Boss, Herbert Wigwe Ranked Among Top Foreign Owners of London Luxury Properties

Late Access Bank Boss, Herbert Wigwe has been ranked among top foreign owners of London Luxury Properties with 100+ Assets.

NewsOnline Nigeria reports that the late Herbert Wigwe, former Group CEO of Access Bank, has been named among the top 10 foreign landlords of luxury real estate in London, with more than 100 property assets linked to him.

Wigwe, who died in a helicopter crash on February 9, 2024, alongside his wife and son near the California-Nevada border, ranked seventh on the list with 106 properties, according to a report by The Londoner.

The properties are reportedly located in some of London’s most prestigious districts, including Oxford Street, Canary Wharf, and Greenwich Peninsula, underscoring the scale and strategic positioning of his real estate investments.

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The ranking also featured other global investors such as Rit Thirakomen, who holds 120 properties, and Simon Reuben, with 129 properties, as well as a Saudi prince among the top foreign property owners in the UK capital.

According to the report, foreign investors have historically used offshore structures, particularly in Jersey, to acquire high-value properties in London while maintaining anonymity. These structures often involve shell companies that obscure the identities of beneficial owners.

However, this practice came under scrutiny in 2022 when the UK government introduced reforms mandating foreign property owners to disclose their identities in a public register, increasing transparency in the real estate sector.

The disclosures enabled tax policy experts, including Dan Neidle of Tax Policy Associates, to compile a comprehensive database of foreign-owned properties, which was released in January.

The database ranked John Corless first with 246 properties, followed by Sarah Bard with 130, while Alexander Bard placed fourth with 122 properties.

Wigwe’s inclusion in the top 10 highlights the growing footprint of Nigerian high-net-worth individuals in global real estate, even as his estate continues to face legal disputes among family members and associates following his death.