Following the slump in the top end of the central London property market, property tycoons Simon and David Reuben have scrapped their £250 million plan to turn a former Piccadilly gentlemen’s club into Britain’s most expensive home, instead planning to convert the Grade I listed mansion into a luxury 102-room hotel and serviced apartments.

The hotel plans include a 2,200 sq ft ballroom and a two-level basement with a gym, spa, wellness centre and swimming pool.

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