Reubens in £25m swoop on Battersea heliport

The Reuben brothers, who amassed a £6bn fortune through property and internet interests, have bought London's only licensed commercial heliport for an estimated £25m.

David and Simon Reuben bought Battersea's heliport from Andrew Davis, former chief executive of the Von Essen hotels group which has collapsed into administration. Mr Davis bought the heliport through the separate Von Essen Aviation company for £50m in 2007.

The heliport opened in 1959 on the south bank of the Thames and now handles 1,000 flights a month. It was recently overhauled with a new terminal and VIP lounge. It should see brisk business this summer as it is excluded from the no-fly zone over the capital for the Olympics.

The Reubens fought off bidders including Joe Bamford, owner of the digger manufacturing giant JCB, and Mohammed Al Fayed, former owner of Harrods.

Last year the Reubens bought the former home of the In and Out Club in Piccadilly for £130m. Their aviation interests include London Oxford airport.