4 January 2016 – Evening Standard
The billionaire Reuben brothers have forked out £50 million to expand their sprawling Piccadilly property empire just weeks after doing a blockbuster deal for Mayfair’s oldest car park.
Motcomb Estates, owned by David and Simon Reuben, have struck a deal to buy the 125-year lease of office block 105 Piccadilly, the Evening Standard can reveal. The block, home to a number of asset managers, brings in a rent of around £1.9 million a year.
It increases the pair’s stranglehold on West End property. The brothers made their fortune — estimated at £7.2 billion by Bloomberg — in Russia in the Nineties, where they were dubbed the “metal tsars” for their role in restructuring the aluminium industry there. Last month the tycoons paid £70 million for a car park in Carrington Street which has scope for a £500 million redevelopment.
Today’s purchase was bought from the freeholder Sir Richard Sutton Estates which was advised by agent Colliers International. All parties declined to comment