BusinessFoxtons founder Jon Hunt’s offices firm returns to profitOffices developer Ocubis has a number of properties in LondonPA Archive/PA ImagesJoanna Hodgson11 October 2018Jon Hunt, the billionaire founder of estate agent Foxtons, has seen his offices business return to the black, new accounts revealed on Thursday.The entrepreneur set up commercial property firm Heven in 2007, the same year he sold Foxtons at the top of the market for £375 million before the recession bit. The Sunday Times Rich List puts Hunt as having a £1.4 billion fortune.Heven, which owns offices developer Ocubis, saw pre-tax profits in 2017 reach £6 million, up from a £227,697 loss.The firm, which has properties across London including in High Street Kensington and St James’s, said refurbishment costs were much lower than in the previous year.Read MoreFoxtons founder Jon Hunt moves into London hotel marketTurnover at Heven rose 10% to £18.8 millionThe company added: “Profit and cash generated in 2018 is expected to increase further due to continued letting of void space, rent free periods expiring during the year, and improving rental levels.”MORE ABOUTJon HuntCommercial property
