Foxtons founder Jon Hunt’s property firm has reported sales growth and said it has confidence in London’s strength as a centre for international business.
Hunt’s development business Heven, which includes offices specialist Ocubis, posted a 5% rise in turnover to £19.7 million for 2018.
It cheered improved occupancy rates across its London offices portfolio.
Pre-tax profits slipped to £5.7 million from £6.2 million due to smaller rises in property values than in previous years.
Heven was set up in 2007, the same year in which Hunt sold estate agency business Foxtons at the top of the market for £375 million before the credit crunch struck.
Matt Gresham, chief operating officer at Ocubis, told the Evening Standard the company has this year sold some sites, including a £32 million land sale in Shoreditch to a hotelier, to raise cash for investment in existing buildings and new acquisitions.
New projects include carrying out a major refit of Ocubis’ building at 64 Knightsbridge which will reopen in 2020 as a new Pavilion business and social members’ club.
