JOINT VENTURE DEVELOPMENTS
UNITED KINGDOM:
MIXED USE DEVELOPMENTS
Merchant Square, Paddington
http://www.merchantsquare.co.uk/
Merchant Square Video Clip
Reuben Brothers own, in a 50:50 partnership with the Jarvis family, the Merchant Square development in Paddington, Central London. A mixed-use development of c. 2,000,000 (2 million) sq ft in the heart of Westminster, Merchant Square is ideally placed to provide a much needed focus and sense of place, lying at the heart of the regeneration of this area with links to a wider range of public transport options within a short walking distance surrounding the site.
Merchant Square will encompass 6 buildings, including a landmark 41-storey skyscraper, and the scheme provides office space, residential apartments as well as hotel and leisure facilities.
A new garden square, planted borders and over 50 new mature trees will create an elegant setting for the buildings – a place for workers, residents and visitors to enjoy. A substantial area of new retail space is provided fronting on to the square and the canal, the majority of this space will be cafes and restaurants.
High quality materials of limestone, ceramic and bronze in the building facades, reinforce Merchant Square’s identity as the premier development in Paddington.
“Boris joins the Reubens for Paddington topping out”
Building 1:
Plans unveiled in November 2010 for a 41-storey skyscraper of c. 430,000 sq ft which will provide 222 apartments and 90-room boutique hotel. The proposed tower has a distinctive elegant form and a character which differentiates it from other London Developments. The new boutique hotel in the base of the tower will provide activity through the daytime and into the evening and will include a public sky bar, brasserie, spa and meeting rooms.
“Tycoon brothers present rival to Gherkin ... it’s the Cucumber”
Building 2:
Planned c. 290,000 sq ft development of office space with a small retail element
Building 3:
Building of c. 318,000 sq ft of Residential space which will provide 201 units (158 private apartments and 43 affordable apartments). The building also comprises a retail element, a nursery and community rooms. Construction is currently underway.
Building 4:
Completed residential building of c. 280,000 sq ft consisting of 153 apartments, 60 of which were pre-sold to the Crown. The remaining 93 apartments were sold off plan with 74 apartments sold within 4 weeks of being marketed.
Building 5:
Completed 15-storey office building (with health club) of c. 430,000 sq ft. High-profile letting of around half of the building to Marks and Spencer for use as their corporate headquarters.
“M&S expansion plans in Paddington bear fruit”
Building 6:
Planned c. 198,000 sq ft building consisting predominantly of affordable housing (110 affordable apartments and 9 private apartments) as well as some space for medical use.
Buildings 4 and 5 were completed in December 2010 with construction on Building 3 underway with a substantial number of apartments already pre-sold.
Other Paddington developments:
Three further buildings were previously developed, completed and sold:
- ‘The Point’: 232,000 sq ft office building predominantly let to Orange;
- ‘Waterside’: 238,000 sq ft office building predominantly let to Marks and Spencer;
- ‘Paddington Walk’: 192,000 sq ft residential building consisting of 153 private apartments and 79 affordable apartments.
Art’otel: London
Reuben Brothers entered into a 50:50 joint venture with Park Plaza Hotels Limited to develop a new apart-hotel and leisure destination under the 'art'otel' brand in Hoxton, in the City of London .
OVERSEAS:
Romania
The construction of hypermarkets totaling some 600,000 - 700,000 sq. ft in association
with a consortium of investors.
Prague : Czech Republic
The joint acquisition of two commercial buildings in the historic centre of Prague.
JOINT VENTURE PROPERTY HOLDINGS
Reuben Brothers set up a €1,000,000,000 (€1 billion) fund with Deutsche Bank, investing in retail property in Europe. The fund is managed jointly with Deutsche Bank and we have a 25% stake in the fund alongside Deutsche Bank and other financial investors.
In addition, in a consortium with Deutsche Bank, AIG and Redwood, Reuben Brothers have a significant investment in the running and development of three logistics parks.