Soho Estates heiress Fawn James is planning to clean up the company’s portfolio.
Speaking to Estates Gazette this week, James revealed plans to transform the central London estate, starting with a £10m gentrification of Walkers Court, W1, infamous for its sex shops.
James, who controls the central London estate founded by her grandfather Paul Raymond, with her sister India Rose and father John James, said Soho had instructed Design Group Seven and Soda to draw up proposals to redevelop the 30,000 sq ft site.
The firm is keen to see the area redeveloped to include boutique stores, New York-style delis and grade A offices.
Soho Estates will also move into a 5,000 sq ft HQ in the area, at 6 Brewer Street. It is currently based in 3,500 sq ft at 3-5 Bateman Street.
Fawn James told EG: “We are also going to change the use of the Boulevard theatre and renovate it, from a lap-dancing club into a niche 120-seat theatre for showcasing new performances.”
Managing director John James said the company was working with the council and other Soho landlords to get rid of the “seedy reputation” and unwelcome tenants that inhabit part of the estate.
He said Walkers Court was the first major clean-up exercise on the estate and more would follow. “We are identifying opportunities for development and making improvements for the next generation,” added Fawn James.
Plans for Walkers Court are expected to be submitted by September. Subject to consent, work on site is scheduled to begin in 2013, with completion in 2015.
The clean-up comes just over a year after 20% of the £378m Soho Estates portfolio was split off into new entity Raymond Estates, led by Raymond’s son Howard.
joanna.bourke@estatesgazette.com
