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David and Simon Reuben have added to their ever-growing portfolio with the purchase of the freehold interest in The Curtain Hotel and Members Club in Shoreditch from hotelier Michael Achenbaum, with whom they have also signed a long-term lease allowing him to continue to operate the space while they receive a share of the income.
The luxury six-storey site is comprised of over 115,000 sq ft, with 120 bedrooms and suites, as well as a private members’ club, a rooftop pool, wellness centre and co-working space.
The deal is the next in a long line of large acquisitions made by the brothers, who purchased 47, 48, and 49-50 Poland Street in Soho earlier this month and the grade II-listed Burlington Arcade on Piccadilly earlier in the year.
Speaking about the Curtain Hotel deal, Michael Achenbaum said: “The decision to sell the freehold was prompted by several unsolicited approaches. However, our long term operating lease demonstrates our commitment to this exciting business which has received critical acclaim. We are delighted to be aligning with the Reuben Brothers who are experienced long-term investors and incredibly supportive of the diverse social elements of The Curtain. The sale of the freehold will act as a catalyst for us to develop sister properties in different international locations.”
This news was brought to you by Morgan Pryce, a specialist tenant acquisition agent with offices in Oxford Circus and the City. Morgan Pryce specialises in search, negotiation and project management and works exclusively for tenants.