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West End booming for landlord Shaftesbury

WEST End landlord Shaftesbury has seen buoyant trading over Christmas and New year, with lettings exceeding predicted prices.

The company, which owns large areas of theatreland, said the West End had enjoyed a booming Christmas period.

Around 70 per cent of the company’s portfolio comprises shops, restaurants and leisure and property for leisure uses but it also has office space.

It said in a statement: “These buoyant conditions, which are reflected in continuing healthy tenant demand in the West End, especially for shops and restaurants, currently extend to our offices.

“This is evident throughout our villages and consequently we continue to secure lettings at or above our valuers' last estimated rental values.

“The increase in demand for our small offices, together with further planning consents to change the use of poorer offices, mainly to residential accommodation, has continued into 2010.”