Mayor Sir Sadiq Khan paid tribute to the vibrancy of London’s business district as he inaugurated an office building in the city last week, following its acquisition by a leading Asian businessman.
The N Sethia Trust, founded by billionaire Nirmal Sethia, has a majority ownership of 41 Moorgate, a five-floor property of 40,000 square feet.Described as a premium office space, the redeveloped building was launched with full occupancy – said to be a first in the market.
Sir Sadiq said, “London is thriving. We are the greatest city in the world… that is pro business.”The mayor added, “This is one of the greenest buildings in this part of London, whether it's the heat pumps, the air pumps, whether it's the glazing - it's an investment in sustainability, it's a vision for the future of this great city.”
Nirmal Sethia, Kalpesh Solanki and Lord Tariq Ahmad
Jamin Solanki, mayor of London Sadiq Khan, Colette Whelan and Marnie Lane
Luca Bandecchi, member of the advisory board for the N Sethia Trust, noted the founder’s philosophy that assets “should be built without borrowing”.“Moorgate 41 has been funded entirely by the Sethia trust, retaining the majority ownership,” Bandecchi said.
A minority stake is held by Vismay, an initiative of the Solanki Asset Management Limited, a sister concern of Asian Media Group (AMG), publishers of Eastern Eye and Garavi Gujarat news weeklies.
The ceremony on December 9 included a prayer and vaastu puja conducted by Dr MN Nandakumara MBE, executive director of the Bhavan. A sacred coconut-breaking blessings ritual was led by Rajrajeshwar Guru.
(Seated from left) Dr Nandakumara, Sadiq Khan, Nirmal Sethia
Mayor of London Sadiq Khan delivering his keynote speech.
Jaimin Solanki addressing the gathering
Among guests who attended the launch were former Foreign Office Conservative minister,Lord Tariq Ahmad and senior leaders from business and community organisations.
Jaimin Solanki, from the Solanki Family Office, said, “None of this would have been possible without Nirmal uncle. He is one of the greatest businessmen in this country and a great philanthropist. He has donated millions to the museum of London, Victoria & Albert Museum and Imperial College Hospital.“When we spoke to him about scaling into the office market, he trusted us and backed us. We are deeply grateful not just for your investment, but also for your constant guidance.”
Bandecchi said, “Vismay will oversee day-to-day operations, ensuring the property is managed to the highest standards and reflecting the close bond and mutual respect between the families.“As we inaugurate Moorgate 41, we celebrate not only the achievement itself, but the strength of this partnership.”The Sethia trust oversees a range of assets around the world, these include hospitals, research centres and community facilities across the UK and India.
Dr Nandakumara guiding the Vaastu Pooja, with Aarya Solanki performing the pooja.
HH Guruji performing the coconut-breaking ritual.
