"Fawn and India Rose James, the granddaughters of late property and publishing magnate Paul Raymond, have received £23 million in dividends from the family's billion-pound Soho property empire following another record year of rental income. The sisters inherited Soho Estates, which owns much of London's West End, including bars, offices and restaurants, after Raymond's death in 2008. Their combined wealth was estimated at £718 million in this year's Sunday Times Rich List."
"Accounts for the year to March 2025 show rental income rose 8 per cent to £43.84 million, surpassing last year's record of £40.71 million. The increase was driven by full occupancy at Ilona Rose House, the flagship mixed-use building named after the sisters' middle names, which houses tenants such as Warner Bros and Skyscanner. Soho Estates said in its annual report that it had "benefited from stronger trading in Soho" as footfall and spending rebounded across the West End."
Soho Estates recorded an 8% rise in rental income to £43.84 million for the year to March 2025, exceeding the prior record of £40.71 million. Full occupancy at Ilona Rose House and tenants such as Warner Bros and Skyscanner drove the increase. The company narrowed pre-tax losses to £5.97 million as valuation reductions were smaller, leaving the property portfolio valued just under £1.1 billion. Footfall and spending in the West End rebounded, vacancies were re-let quickly, and new tenants included Skin Cupid, Frites Atelier and the Market Place Food Hall. Falling borrowing costs produced tentative signs of recovery. A £23.18 million dividend was returned to shareholders.
Read at Business Matters
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