Foxtons founder and billionaire Jon Hunt has added to his huge fortune after racking up multi-million-pound profits on the £120 million sale of a City office block, the Evening Standard understands.
The shrewd Hunt, who sold the aggressive estate agent he founded at the peak of the market to private equity firm BC Partners in 2007, has offloaded the Cannon Green office development to Korean investor Kiwoom via his latest property company Ocubis.
Industry sources said Hunt is likely to have more than doubled his money on the development, having bought the former Princess House for £29 million in 2014 and spent around £25 million on a major refurbishment before rebranding it Cannon Green.
The sale is believed to have completed this week.
According to the Sunday Times Rich List Hunt is worth around £1.4 billion, owning Heveningham Hall in Suffolk and some £600 million in commercial property. Last year he won a 10-year battle to build a super-basement under his Kensington home housing a museum for his collection of cars.
