Shaftesbury Capital hails 'strong' trading in London's West End - Indoors Beauty

Shaftesbury Capital hails 'strong' trading in London's West End

Shaftesbury Capital hails 'strong' trading in London's West End

Landlord Shaftesbury Capital has stated demand for house throughout its West End property is “sturdy” regardless of a backdrop of macroeconomic uncertainty.

The firm signed 173 new leases in the primary 5 months of 2023, with retail at 28, hospitality and leisure at 16, workplaces at 30 and residential at 99.

Trading exercise was additionally “sturdy” throughout the portfolio, with retail, hospitality and leisure prospects reporting gross sales 13% above 2019 on a like-for-like foundation.

Footfall traits throughout the West End have been “constructive”, helped by growing worldwide vacationer numbers, notably evident by means of May following the Coronation celebrations. This is anticipated to proceed throughout the summer season.

Ian Hawksworth, CEO of Shaftesbury Capital, stated: “We are happy with the primary 100 days of exercise throughout Shaftesbury Capital with the combination of our enterprise and proficient workforce progressing properly.

“We are inspired by operational progress, prospects for our prime West End portfolio and the advantages we’re seeing from the mixed platform.

“Our portfolio has delivered a robust working efficiency reflecting its distinctive qualities and long-term resilience.”

Shaftesbury Capital was shaped this yr by the merger of Shaftesbury and Capital & Counties. Its portfolio consists of numerous places in London’s West End, together with Covent Garden, Chinatown, Soho and Carnaby Street.

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