Property Week – 22nd October 2019
The Reuben Brothers have acquired an 80,729 sq ft property in Italy, which is set to be developed and operated by Corinthia Hotels
The property is the former seat of the Central Bank of Italy in Parliament Square in Rome. Work onsite is expected to begin in 2020.
“This acquisition and development is yet another milestone in establishing our global property footprint and furthers our interests in Italy, which include the newly-opened Palazzo Experimental in Venice. Our objective here is to create the best luxury hotel in Rome,” said Jamie Reuben, a principal at Reuben Brothers.
Simon Naudi, chief executive of Corinthia, added: “We are very pleased to have entered into these arrangements as developers and operators, adding yet another flag to our portfolio in one of the most visited cities worldwide.”
“We are also especially proud of having established the foundations for a new partnership with the Reuben Brothers.”
The new acquisition is the latest addition to the Reuben’s existing pipeline of hotel investments across the UK and Europe including Venice, Switzerland and in London, Grosvenor Square Mayfair and Great Marlborough Street in Soho.