26 May 2017 – City AM
A £250m former hotel with 102 rooms in the heart of London is to be restored by Britain’s second richest brothers.
David and Simon Reuben, who have a combined net worth of £14bn according to The Sunday Times rich list, bought the property at 94 Piccadilly, named Cambridge House, for just £100m in 2012. They had originally intended to turn it into a mega-mansion, but a new planning permission application has revealed that the Reuben brothers want to turn 94 Piccadilly and its adjacent buildings into a luxury five-star hotel.
Currently on Historic England’s list of “at risk” buildings, the Reubens want to restore the hotel to its former glory, in addition to adding four residential homes. The planning application explained: “The development will secure the future use of a Grade I and two Grade II listed buildings.” The proposed plans for the luxury hotel, which were submitted to Westminster Council, include a spa, a restaurant, and a wine bar.
A grand ballroom of 2,200 sq.ft was also an integral part of the former hotel and private members club, but it is not yet known what the brothers plan to do with the space. Located opposite Green Park, and a stone’s throw away from Buckingham Palace, the Grade I and Grade II listed site was once the home of mid-19th century prime minister Lord Palmerston and was owned by the Naval and Military Club from the 1860s until 1999.
The brothers are keen to keep the hotel’s façade the same as it would have been centuries ago, as planning documents reveal they will “seek to retain and enhance the setting of the Grade I and II listed buildings and restore the existing finishes”. A £110m Knightsbridge building was also recently acquired by the Reubens in addition to a large stretch of land in Ibiza.