Property tycoons Simon and David Reuben have applied to convert a former gentleman's club in Piccadilly, London, into a 102-bedroom luxury hotel after dropping plans to create a £250m private home.
The brothers bought 94 Piccadilly, a Grade I-listed property, and six surrounding buildings, known as the Piccadilly Estate, for £130m in 2011 and won planning consent to convert them into a 60,000sq ft residence in 2014.
Originally constructed as a residential dwelling, the 18th century mansion operated as the Naval and Military Club from 1865 to 1999. It has always been affectionately known as the ‘In and Out Club' due to the ‘In' and ‘Out' signs for vehicles passing into the courtyard in front of the building.
In recent years, the property has accommodated temporary food and drink outlets.
A planning application lodged with Westminster City Council reveals plans to turn the site into a 102-room "high quality" hotel, provisionally called the ‘In and Out hotel', plus four residential units.
Architects PDP London has outlined details for a basement-level spa to incorporate a gym, swimming pool and wellness facilities; a bar, restaurant and wine bar; and banqueting and meeting rooms.
The Reuben brothers - who are listed in third place on the Sunday Time's Rich List 2017 with an estimated fortune of £14b - declined to comment. Their investments include a 10.6% stake in luxury hotel company Belmond and a 50:50 joint venture with Park Plaza Hotels to develop a art'otel in Hoxton, London.
Two years ago the brothers secured a £305m loan on the five-AA-star, 494-bedroom Grosvenor House hotel, alongside a further £304.14m loan for the Plaza and Dream Downtown hotels in New York. .
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