The property firm founded by the entrepreneur who founded Foxtons has reported a boom in business demand for office lettings.
John Hunts Haven, which includes the office division Ocubis, was founded in 2007. That same year he sold Foxton.
Haven has filed accounts that will show that the business was affected by the ‘work from home’ guidance during the pandemic.
This affected property values, and Haven’s pre-tax profit fell from £30.7 million in the previous 12 months to £4.5 million the previous year, although benefiting from a settlement the previous year.
Excluding one-off factors, profit decreased from £6.2 million to £4.9 million.
But footfall is increasing in central London, and Matt Gresham at Ocubis said: “We are now seeing a rapid recovery with new tenants signing up in both our long leased office and business members’ club model.”
He said: “Many of our buildings are back to pre-Covid levels. Central London will continue to attract high quality tenants who want to do business in the capital.”
Since the end of the year, the company has agreed to the sale of its building at 5 St James’s Square, which property news site Coster reported at a price of more than £75 million.