Decadent ... An artist's impression of the completed mansion
Cambridge House, in posh Piccadilly, was bought in 2011 by the Reuben brothers
and will become London's finest family home.
The pair will oversee the overhaul of the Grade I listed pile - transforming it into a 45-room palace complete with an underground swimming pool and a wine cellar for 35,000 bottles.
Work is due to start on the three-year project and when completed, the plush
pad will span 60,000 sq ft - the size of a football pitch.
Property experts believe the mansion will be worth £250m - making it 1,543 times more expensive than an average house in England and Wales.
Peter Wetherell, from Wetherell Estates said: "People really appreciate the grandeur and scale of the architecture of Mayfair’s finest houses, and properties like Dudley House, Lombard House and Cambridge House have been preserved due to the roles as commercial buildings since 1945.
"The return of these properties back to their original residential use
will help to return Mayfair to the top of the Monopoly board."
Cambridge House was originally built for Charles Wyndham, the Earl of Egremont in 1756-1761.
The Duke of Cambridge lived in it between 1829 and 1850 and from 1855 to 1865 Prime Minister Lord Palmerston called Cambridge House home.
Between 1865 and 1999 it was owned by the Naval and Military Club, and was
known as the In and Out Club.
Mr Wetherell believes the property, which is located at 94 Piccadilly, is like “nothing that has ever been launched into the Mayfair market”.
He said: "The house has the benefit of its own private carriage drive and gardens, plus massive state rooms and underground leisure complex.
"Plus it overlooks Green Park and Buckingham Palace - there is simply
nothing on the marketplace like it.
"There is no reason for 94 Piccadilly not to smash price records when it comes onto the market and become the UK’s most expensive home."
The most expensive home sold in the UK is Park Place, with the Oxfordshire mansion fetching £140million.
The pair will oversee the overhaul of the Grade I listed pile - transforming it into a 45-room palace complete with an underground swimming pool and a wine cellar for 35,000 bottles.
Vast ... The home will boast an underground swimming pool
Property experts believe the mansion will be worth £250m - making it 1,543 times more expensive than an average house in England and Wales.
Peter Wetherell, from Wetherell Estates said: "People really appreciate the grandeur and scale of the architecture of Mayfair’s finest houses, and properties like Dudley House, Lombard House and Cambridge House have been preserved due to the roles as commercial buildings since 1945.
Luxury ... What the elegant interior will look like after the extensive overhaul
Cambridge House was originally built for Charles Wyndham, the Earl of Egremont in 1756-1761.
The Duke of Cambridge lived in it between 1829 and 1850 and from 1855 to 1865 Prime Minister Lord Palmerston called Cambridge House home.
Pricey ... Property experts believe Cambrige House will fetch upwards of £250m
Mr Wetherell believes the property, which is located at 94 Piccadilly, is like “nothing that has ever been launched into the Mayfair market”.
He said: "The house has the benefit of its own private carriage drive and gardens, plus massive state rooms and underground leisure complex.
Billionaires ... David Reuben, left, with Princess Beatrice and brother Simon with a friend
"There is no reason for 94 Piccadilly not to smash price records when it comes onto the market and become the UK’s most expensive home."
The most expensive home sold in the UK is Park Place, with the Oxfordshire mansion fetching £140million.
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