Jon Hunt's property firm gets green light for Shoreditch hotel
Foxtons founder Jon Hunt, famed for calling property cycles correctly,on Friday said he thinks Shoreditch is a great place to invest in as he prepared to start building a hotel in the east London hipster haunt.
The property tycoon made the comments after his development company, Ocubis, secured a resolution to grant planning permission from Hackney council for a 145-bedroom hotel at 49-51 Paul Street.
The Jestico + Whiles- designed building will also include a cafe or restaurant.
Hunt said: “Shoreditch has recently become a destination of choice for tech companies together with a wide range of start ups and this, coupled with demand from younger tourists, makes this a good place to construct and open a hotel."
His confidence comes despite jitters in the market that Brexit could make London less attractive to international visitors.
Entrepreneur Hunt famously sold estate agency Foxtons at the top of the market for £375 million just before the credit crunch struck.