Property Week – 2nd January 2019
Reuben Brothers have acquired 33 Jermyn Street in London’s West End from Aberdeen Standard Investments in an off-market transaction.
The mixed-use block comprises 85,981 sq ft of grade A office and retail over eight floors. It was developed by Standard Life in 2007. The 63,047 sq ft offices, which serve as the headquarters of private equity group Apax Partners, are fully let. Other tenants include AEW Europe and GMC Grosvenor.
Retail space totals 22,934 sq ft over five units, including a Costa coffee shop. The deal was the latest in a string of acquisitions by Reuben Brothers, which started in January 2018 with the purchase of 69-70 Pall Mall, also in the West End. Billionaire brothers David and Simon Reuben founded the eponymous company in the 1990s.
CBRE advised Aberdeen Standard on the deal.