The sisters who own swathes of London’s Soho are nursing a fall in profits after their property empire was revalued.
Fawn and India Rose James, granddaughters of the late porn baron Paul Raymond, saw pre-tax profits at Soho Estates sink from £216m to £51m in the year to the end of March, according to accounts filed at Companies House.
Their father, John James, who is managing director of Soho Estates, said the fall was down to a change in accounting rules and pointed out that turnover and gross profits were flat.
