 George Albu purchased the ailing Meyer and Charlton Mine, restructured it, and on 30 December 1895 he and his brother established General Mining and Finance Corporation.Naturalized as a UK citizen in 1911, he was created "1st Baronet Albu of Johannesburg" on 12 February 1912 — at that time baronetcies were bestowed on a large number of Randlords.In 1911 Sir George Albu bought the Parktown mansion, Northwards, (designed by Herbert Baker in 1904) for £12,000 (Colonel John Dale Lace and wife Josephine, the previous owners, had paid £21 000 for the house).