Profit at Soho Estates has risen sixfold over the year to £108.9m.
The hike, from £19m last year, was largely due to an £88m rise in the value of the portfolio, which increased to £1.16bn. This, in turn, was driven by the completion of work on the 325,000 sq ft Ilona Rose House, W1.
However, rental income fell by 16% over the year from £35.3m to £29.5m, as it factored in rent-free periods given to tenants during the pandemic.
The estate, which spans around 60 acres of central London, is owned by Fawn and India Rose James, the granddaughters of pornography baron Paul Raymond, who pieced it together.
