Shaftesbury Capital Loses Two Executive Directors at Year End

Shaftesbury Capital, the prominent London property giant, has announced that Andrew Price, an executive director, will be stepping down from his role at the end of the current year. This departure follows the successful completion of several important company initiatives, with Price choosing to pursue other professional opportunities outside the organization. The company did not disclose any details regarding his next venture.

Mr. Price's tenure with the business has been extensive and impactful, having joined in 2001. Over more than two decades, he has held a diverse range of critical positions, including significant investment, asset management, and leadership roles. Notably, following the landmark merger of Shaftesbury and Capco, and the subsequent divestment of the Fitzrovia portfolio, he was instrumental in leading the operations team. In this capacity, he focused on streamlining efficiencies across the entire portfolio and spearheading the enhancement of the company's sustainability initiatives, leaving a lasting legacy.

Ian Hawksworth, Chief Executive Officer of Shaftesbury Capital, expressed his gratitude for Price's contributions, stating that Andrew "made a significant contribution to the company over many years." Hawksworth extended the company's thanks and best wishes for Price's future endeavors, underscoring the positive relationship maintained during his departure.

This announcement comes just weeks after the company revealed another executive departure. Michelle McGrath, also an executive director, is likewise slated to step down from her position at the close of the year to explore new opportunities. The simultaneous exits of two executive directors, both effective at year-end and for similar stated reasons, marks a period of leadership transition for the property giant.

Shaftesbury Capital itself is a relatively new entity, established in 2022 through the merger of two of London's major landlords, Shaftesbury PLC and Capital & Counties Properties PLC (Capco). This strategic consolidation created a dominant force in central London real estate, controlling extensive swathes of prime property in vibrant areas such as Soho, the West End, and Covent Garden. The company has reported strong performance recently, noting earlier this month that its properties have remained "busy and vibrant through this important trading period, with high occupancy, footfall and sales volumes."