Reports on the internet suggest that the In and Out Club on Piccadilly, which has been on the market for £200 million since owner Simon Halabi’s bankruptcy, has been sold to the Reuben Brothers for £130 million
Reports on the internet suggest that the In and Out Club on Piccadilly, which has been on the market for £150 million since owner Simon Halabi’s bankruptcy, has been sold to the Reuben Brothers for £130 million.
The building, at 94 Piccadilly, was part of Halabi’s property portfolio until a June 2009 default on $1.9 billion of bonds. It is the former home of the Naval & Military Club, which is now on St James’s Square. The deal also includes buildings at 96-100 Piccadilly, which are offices, and 90-93 Piccadilly, which are luxury flats.
The Reuben Brothers have an estimated worth of £5.5 billion, according to the Sunday Times Rich List.
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Peter Wetherell, whose estate agency sold over half of all the houses on the market in Mayfair in 2010, said: ‘The building is one of the gems of Mayfair. One of the canniest investors in the world is investing in one of the finest areas of the world, and it underlines Mayfair’s leading role in London property over the next decade.’
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