Evening Standard – 20th December 2017
The billionaire Reuben brothers have topped off a year of big property deals with the purchase of a St James’s building from Royal Bank of Scotland which could house a new London gallery, the Evening Standard can reveal.
An investment vehicle used by Simon and David Reuben is understood to have paid around £23 million for 22 King Street, a grade II-listed office block which was used by RBS’s private banking division Adam & Company until it moved in September.
A RBS spokesman said its strategy is to “consolidate our property portfolio, ensuring that we use our property footprint in the most cost-effective way”. Agent GVA advised on the deal.
One source said the Reuben brothers are eyeing turning it into an art gallery. The deal brings the amount spent by the real-estate tycoons on London property acquisitions in 2017 to at least £200 million. Other purchases have included offices in Knightsbridge. Last week they won planning consent to transform the former In & Out members club into a luxury hotel.