Former Barclays boss Matt Barrett famously said he never borrowed on his Barclaycard. The founder of Papa John's pizza, John Schnatter, told customers that eating a whole pizza could damage their health.
And now it seems that the fabulous Candy brothers, the property tycoons behind the opulent One Hyde Park who flog the most lavish of homes to the world's ultra-rich, are taking the opposite approach to their sales pitch by scrimping on their own property costs.
The latest accounts for Candy & Candy Ltd - which manages developments and provides interior design services to other Candy companies - state
At the operating level profitability moved from a loss of over £4m to an operating profit of over £900,000. Apart from the increase in revenue this is a result of a review of the costs, the biggest element of which was a reduction in overhead from a move to premises in Knightsbridge to be closer to our client base.
Golly, a switch to Knightsbridge reduces costs? How much were they forking out before?
