Paul Raymond’s Legacy Grows with Soho Estates

70 years ago, Paul Raymond, who opened the first striptease club in England and published adult magazines, left a legacy that continues to grow.

Following Raymond’s death in 2008, the legacy of Soho Estates, which he left behind, is now the owner of hundreds of offices, bars, shops, and restaurants in London’s West End.

Paul Raymond’s grandchildren, Fawn and India Rose James, earned a record dividend of 23 million pounds (1.27 billion TL) after record rental income from the 1 billion pound (55 billion TL) valued Soho Estates empire.

(Fawn and India Rose James)

Highest Level in Company History

During the period between April 2024 and March 2025, the company’s rental income increased by 8% compared to the previous year, reaching 44 million pounds (2.43 billion TL). This figure marked the highest level in company history. The increase was achieved by fully renting out the Ilona Rose House building, which is home to giants like Warner Bros and Skyscanner.

An increase in visitor numbers and high occupancy rates also supported the revenue performance. The company announced that it quickly re-rented vacant rental spaces on “equal or better terms.”

Decrease in Losses, Record Dividends

Soho Estates’ pre-tax loss decreased from 20 million pounds (1.1 billion TL) in the previous year to 6 million pounds (332 million TL). While the company’s property portfolio value approached 1.1 billion pounds (61 billion TL), it was stated that the decrease in interest rates began to recover real estate values.

The board of directors decided to distribute a 23 million pounds (1.23 billion TL) dividend thanks to strong cash flow and high occupancy rates. The majority of this amount went to Raymond’s grandchildren, Fawn (39) and India Rose James (33).

(Paul Raymond and his daughter Debbie, who died from drugs)

From Striptease Club to Real Estate Empire

In 1960, Paul Raymond bought the title deed of the building with the earnings from the Raymond Revuebar striptease club in London for 14,000 pounds and took advantage of the real estate stagnation in the 1970s to become the owner of new buildings in the Soho area every week.

Today, popular venues like Ronnie Scott’s Jazz Club, Kettner’s, and Soho House are also among Soho Estates’ properties.