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Simon Cowell, the new property idol

Multi-million pound property deals with the help of the television talent show supremo.

November 26, 2009 10:07
Simon Cowell: ‘he doesn’t pretend to be an expert in things that he’s not’

By

Candice Krieger,

Candice Krieger

4 min read

Property developer Mark Hoffman is sitting pretty. Hardly surprising considering that one of his business partners is Simon Cowell, the multi-millionaire music entrepreneur and X-Factor judge.

Mr Hoffman, 36, is the founder of Commercial Property Investments (CPI), a London-based firm which he runs with Simon Cowell; his brother, Nicholas Cowell, co-founder of Estate Office; Adrian Levy, also of Estate Office; and Mr Hoffman’s father, Peter.

CPI was set up in 2005 to buy and sell buildings across the UK. Simon Cowell solely funded their debut deal, putting up the full £1 million to buy a vacant site in Commercial Road, London E1. They then let it to Tesco at a rent of £65,000 a year and later sold it to a private investor for £1.75m. “That was really good as it gave everyone some confidence that we can deliver,” says Mr Hoffman, who was introduced to Simon Cowell through Cowell’s brother, Nicholas. “It was before Pop Idol so I’ve known him before his TV days.”

What’s he like to work with? “Simon is fabulous. He doesn’t pretend to be an expert in things that he’s not. So, when it comes to music and entertainment, obviously he knows what he’s talking about but when it comes to property matters, he very much goes on our advice. He doesn’t interfere too much.