8th May 2017
Reuben brothers add to their property portfolioDavid and Simon Reuben, the billionaire owners of Londonís Millbank Tower have yet again increased their property empire buy buying a total of £110m worth of Knightsbridge. Their interests cover a range of areas from buildings to data centres and racecourses, and now they have a keen interest in 27 Knightsbridge. It has been said the brothers have bought the Isle of Man Company through which the building was held.
The majority of tenants are thought to be due to leave the office space, meaning the brothers have the opportunity to refurbish the office space and let it at higher rents. The building totals 65,000 sq ft, with occupiers including credit asset management firm Cairn Capital and CIMB bank.
The pairís existing UK property holdings include Connaught House in Berkeley Square, W1, Millbank Tower, SW1, and London Oxford airport.
The Reubens are ranked third in 2017ís Sunday Times Rich List with a fortune of £14bn and last week bought 2.8m sq ft of land in Ibiza. Adding to their existing holdings, it now means that they own approximately 4 miles of uninterrupted beachfront.
The Reubens, who were born in Mumbai and educated at state school in Britain, made their fortune trading aluminium in Russia in the 1990s after the break-up of the Soviet Union. Following this, they invested the proceeds into London property.
By Louise Beevis
Source: EGI & The Sunday Times