Brothers Simon and David Reuben have submitted a planning application to Westminster Council to turn 94 Piccadilly, SW1, formerly the In and Out club, into a hotel.
The new planning application means that the property tycoons have axed previous plans to turn the 60,000 sq ft property into the UK’s most expensive residence. It would have been worth £250m.
The brothers bought the property for £100m in 2012 but have since struggled to make progress on the development.
The new plans will see the Grade II listed property turned into a 102-bedroom hotel which will also include four serviced apartments.
To send feedback, e-mail amber.rolt@egi.co.uk or tweet @AmberRoltEG or @estatesgazette
