Shaftesbury back in the black as West End landlord sees ‘rapid rebound’ in shopping destination COVID RECOVERY 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 in london 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 WEST END 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 [...]
No deal agreed by Capco and Shaftesbury yet as West End landlords ask for more time May 30, 2022 Shaftesbury has asked for an extension to a deadline for rival Capco to make an offer for the West End landlord. The two property titans have been in advanced discussions for an all-share merger, it was announced on 7 May. The £3.5bn merger would create a sprawling real estate empire across central London destinations including [...]
West End: Shaftesbury investor raises concern with £3.5bn merger with rival Capco May 15, 2022 Concerns have been raised over West End landlord Shaftesbury’s planned £3.5bn merger with rival Capital & Counties Properties (Capco), by a key investor. Shareholders could be left worse for wear, Chris Hills, chief investment consultant at Investec, which has a 1.65 per cent stake in Shaftesbury, told The Times. As Shaftesbury trades at just an [...]
West End set for booming recovery as tourists flock back to capital May 3, 2022 Londoners can bet on a roaring West End comeback, after Peel Hunt analysts pointed to a resilient recovery in occupier demand and rental tone. In a note yesterday, Peel Hunt said that the future looked cheery for the central London shopping and theatre destination, “despite wider uncertainty and the cost of living squeeze.” It comes [...]
Shaftesbury weathers Omicron disruption and reports a strong rebound February 4, 2022 Shaftesbury, the owner of several buildings in London’s West End, has reported a strong rebound despite the impact of Omicron. In the four months ended 3 February, the firm announced that strong strong trading prior to restrictions and ongoing government support measures helped Shaftesbury weather Omicron-induced disruptions. The firm’s net debt went down 1.1 per [...]
West End landlord Shaftesbury posts smaller annual loss thanks to retail rebound November 30, 2021 West End commercial landlord Shaftesbury posted a smaller annual loss thanks to its hospitality and retail firm tenants rebounding after lockdown. “There has been great progress on Shaftesbury’s road to recovery in recent months,” chief executive officer Brian Bickell said in a statement yesterday. However, he cautioned that there was “still further to travel before [...]
Full reopening key for West End landlord Shaftesbury after its £338m loss over winter lockdown May 25, 2021 West End landlord Shaftesbury banking on a summer revival after its £338m loss over winter lockdown
Retail landlord Shaftesbury expects West End ‘revival’ as lockdown lifts February 25, 2021 West End landlord Shaftesbury this morning said occupier interest had improved after the lockdown lifting roadmap was announced, saying the easing of restrictions will herald a “revival” of the London’s theatre and shopping district. However, the FTSE 250 developer said current restrictions were continuing to have a “significant impact on economic activity and consumer spending [...]