Former In & Out club site is sold

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The billionaire Reuben brothers have bought Piccadilly Estate, once home to the prime minister Lord Palmerston, in London's Mayfair district for £130m.

A spokesman for the Reubens said it was too early to comment on plans for the site, which recently housed the Naval & Military club, better known even now as the In & Out Club because of the signs on the building's gateposts. The site was bought by trusts advised by the property mogul Simon Halabi and was put up for sale by receivers last year.