Travelex Founder Takes Bet On London Office Market Recovery

(Bloomberg) --

Lloyd Dorfman, the founder of Travelex Ltd, has bought an office building in London in a sign of his “great faith” in the capital’s office market, according to a report in The Times.

The currency exchange entrepreneur has bought Soho Place, an office block and theater near London’s Tottenham Court Road Station, for 40 million pounds ($50 million) that’s being developed by Derwent London Plc.

According to the paper, Dorfman said that despite the challenging times he has great faith in the future of the office market in central London. He predicted even greater demand for flexible office space in London after the pandemic.

The building includes office space, likely to be occupied by The Office Group, the workspace provider of which Dorfman still owns 10%, and a venue let to Nica Burns, the co-founder of Nimax Theatres.

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