Norwegian oil fund buys a quarter of Covent Garden from Shaftesbury Property Shaftesbury Capital has sold a quarter of Covent Garden to Norwegian oil fund Norges for £570m in the latest bet by Noway’s sovereign wealth fund on the capital. Under the terms of the contract, Norges Bank Investment Management (NBIM) will buy a 25 per cent non-controlling stake in the £2.7bn Covent Garden estate, which Shaftesbury [...]
The London office market has ‘definitively turned’ as prime rents set to double Property Analysts have said the London office market has turned a corner after two major commercial real estate investors released positive results. Dewent London reported rental growth doubling to 4.3 per cent, the highest since 2016, and it expects estimated rental value growth – an estimate of the rent that a property could earn if it [...]
London’s commercial property market to keep growing as staff ordered back to the office Property The green shoots which sprang up earlier this year in London’s commercial property market look set to continue into 2025, with real estate companies looking at a “cyclical growth opportunity”. London-listed property development firm Helical reported a minor recovery in the value of its property portfolio after several years of market uncertainty this morning. Its [...]
London’s West End gets welcome boost with return of foreign tourists May 23, 2024 An influx of foreign tourists over the past 12 months has delivered a boost for the West End's biggest landlord, Shaftesbury Capital, as it reveals its first financial results since its £3.5 bn takeover last year.
Shaftesbury Capital: West End’s ‘resilience and appeal’ drives 12 per cent jump in footfall November 27, 2023 The amount of people spending on the West End i is up 12 per cent on last year, West End Landlord Shaftesbury Capital has said.
Shaftesbury Capital abandons Fitzrovia portfolio sale due to low bids November 21, 2023 West-End landlord Shaftesbury Capital has abandoned plans to sell a portfolio of properties in London’s Fitzrovia district after bids reportedly fell short of expectations. Now the real estate giant is plotting a move to sell the units individually or in smaller groups, a report in Bloomberg said, in the hopes that this will help generate [...]
Shaftsbury integration ‘progressing well’ in vote of confidence for booming London west end June 14, 2023 Shaftesbury delivered a confident update to the markets, as a return to international tourism and its £4.9bn merger with Capco helped boost activity London’s West-end. In March last year, the two West-end landlords merged, meaning that Shaftesbury who owns land around Soho and Capco who owns land around Covent Garden now operate under one ownership. [...]
Shaftesbury back in the black as West End landlord sees ‘rapid rebound’ in shopping destination November 29, 2022 West End landlord Shaftesbury has swung back to profit as the capital’s retail heartland bounced back from Covid-19 disruption this year. The landlord, which is set to merge with neighbouring property giant Capital and Counties next year, shared a £119.1m profit after tax in full-year results. This was a strong come-back for the Carnaby, Seven [...]
Value of West End landlords’ assets dented by economic volatility November 1, 2022 West End landlords Shaftesbury and Capital & Counties Properties have had the valuations of their portfolios dented by economic turbulence in the last few months. The London-listed Shaftesbury, soon to be merged with neighbour Capital & Counties, posted an update about its first summer of trading not disrupted by Covid measures since 2019. Its portfolio [...]
West End: Capco, Shaftesbury bosses to receive millions in shares after merger July 10, 2022 Top bosses at Covent Garden estate owner Capital & Counties Properties (Capco) and Shaftesbury will be awarded millions in shares after the merger between the two companies is completed. Capco’s top brass will receive shares amounting to £7.4 million while Shaftesbury’s senior executives will receive shares worth £5.3 million. The £3.5bn merger will see the [...]