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Fancy Moving Into Mayfair's Finest Home? by Fiona Davies
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Fancy Moving Into Mayfair's Finest Home? |
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Real Estate,Construction,Finance & Investment
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A former Mayfair club is set to be transformed into a £250million ultra-mansion after planners agreed proposals to re-develop Cambridge House and create a 45 room palace, which will have a 35,000 bottle wine cellar inside. Billionaire brothers Simon and David Reuben are set to transform the former In and Out club in Mayfair after buying it back in 2011. They want to turn the former social club into London's finest family home after it fell into ruin over the past 100 years. The building was once one of the most exclusive gentleman's clubs in the world, located in Piccadilly, and was frequented by well-known people from all over the world. However after their plans were approved by the local council the Grade I listed mansion is set to come back to life with a underground swimming complex and a wine cellar to rival any in the world. Work is now set to begin on the 45 bedroom mansion, which will take three years to complete, but will turn the former club into the most expensive home in London. Once finished the house will be the same size as a football pitch, 60,000 sqft and experts are predicting that the mansion will then be worth around £250million, 1,543 times more expensive than the cost of an average home in England and Wales. Estate agents feel that the house will in fact topple Kensington Palace Gardens as the ultimate residential destination for the world's elite. The redevelopment of Cambridge House will help turn London's West End back into a residential area rather than a commercial sector and therefore return mayfair to the top of the property ladder for trophy homes. The houses of Mayfair and Belgravia suffered badly during the bombing of the City in World War Two and as a result they were then turned into embassies, clubs or offices. However embassies and offices are now relocating south of the river to Nine Elms leaving the buildings in Mayfair and Belgravia free to return to their former roles of grand exquisite homes. Sine 1945 houses such as Cambridge House along with Dudley House and Lombard House have been preserved through their role of commercial buildings. The houses contain the finest architecture and people appreciate the grandeur of the buildings. Mayfair has lost its place as the most desirable place to live to Kensington Palace Gardens since 2011. The Gardens were made famous due to Princess Diana calling them here home whilst alive. However agents believe that Cambridge House, or 94 Piccadilly as it is also known as, will rival anything else on the London market. The house has its own private carriage drive along with gardens but it also has the benefit of overlooking Green Park and Buckingham Palace, therefore there is no address like it and when put onto the property market it is set to smash all records. The most expensive property to come onto the UK housing market was Park Place, an Oxfordshire mansion sold for £140million. There are two other properties on the market for £250million and £300million. 2-8a Rutland gate overlooks Hyde Park and is on the market for £300million, but has not found a buyer. Also 18 Carlton House Terrace is on the market for £250million, this also overlooks Buckingham Palace but again has not sold. The Reuben brothers are ranked as the second highest earning billionaires on Forbes List of Billionaires. They have set about buying up lots of primes London real estate after making their fortune in Russian aluminium and intend on buying the American Club next door to Cambridge House and turning it into six luxury flats. http://www.buildingplots.org
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