West End Shines: Shaftesbury Capital Reports Strong Performance and High Demand

Shaftesbury Capital, a prominent property owner in London's West End, has reported a period of "positive performance" from 1 July to 31 October, indicating sustained growth and vibrancy across its extensive portfolio. The company, which owns significant tracts of prime retail and leisure spaces in iconic areas such as Soho, Carnaby, and Covent Garden, highlighted a period of continued momentum, robust activity, and strong demand.

Ian Hawksworth, CEO of Shaftesbury Capital, underscored the "busy and vibrant" nature of their West End estates throughout this crucial trading period. He noted high occupancy rates, strong footfall, and encouraging sales volumes, attributing this success to customers' ongoing preference for premium locations. This enduring demand, coupled with a healthy leasing pipeline and robust performance, instills confidence in the company's ability to achieve its medium-term targets.

The company's strong performance is underpinned by significant leasing activity. Year-to-date, 367 leasing transactions have been successfully completed, generating £30.2 million in new contracted rent. This figure represents an impressive 9% ahead of the December 2024 Estimated Rental Value (ERV) and a 14% increase over previous passing rents. More specifically, in the second half of the year to date, 174 transactions amounting to £11 million were finalized, showing a 4.3% uplift on June 2025 ERV and a 10% gain on prior rents.

Occupancy across Shaftesbury Capital's portfolio remains exceptionally high, with only 2.6% of ERV currently available for letting. An additional 1.5% is already under offer, further demonstrating the strong market appetite for their properties and the effectiveness of their leasing strategy in maintaining minimal vacancies.

Looking ahead, Shaftesbury Capital's comprehensive marketing initiatives have successfully positioned its West End portfolio among London's most dynamic festive destinations. With consistent strong footfall and continued growth in customer sales, the company is well-prepared for the anticipated surge in activity during the Christmas trading period and beyond, reflecting a positive outlook for future performance.

Specific areas within the portfolio are showing particular strength and attracting high-calibre tenants. Covent Garden is experiencing "strong momentum" with several new openings, including luxury fragrance brand Byredo, French haute-parfumerie Parfums de Marly, and lifestyle brand Kapten & Son. Meanwhile, Soho and Carnaby Street continue to draw an exciting array of new concepts, enhancing their already diverse offerings with additions like Tala, Farm Rio, and Pure Seoul. Notably, luxury beauty powerhouse Charlotte Tilbury recently unveiled its flagship store at a key entrance to Carnaby Street, further cementing the area's appeal.