Foxtons founder launches property fund
Foxtons founder Jon Hunt is gearing up to tackle the UK housing supply shortage with the launch of his own property investment fund...
According to a report in The Financial Times, Hunt is using the proceeds of his sale of Foxtons - reported to be more than £350m - to fund residential scheme development through his newly-formed company, Bacchus Partners.
The company is expected to buy and develop disused land and work with local partners to develop residential schemes.
David Roberts has been appointed chief executive of the company, which is believed to have already snapped up 20 sites around the South East.