Shaftesbury Capital prepares to sell Fitzrovia portfolio
Shaftesbury Capital has enlisted CBRE to manage the sale of its properties in Fitzrovia, with a value exceeding £100m.
The portfolio spans over 100,000 sq ft of properties around Goodge Street and Charlotte Street, comprising 28 hospitality and leisure units, 11 office spaces and seven retail units.
Ian Hawksworth, Shaftesbury’s CEO, confirmed the decision to put the assets up for sale, stating that the Fitzrovia portfolio no longer met the firm’s investment criteria.
Hawksworth expressed the intention to offload a minimum of 5% of the portfolio, where additonal value is limited, and instead focus on its core estate of Covent Garden, Carnaby and Soho which he believes can increase its rent roll by £40m a year.
This news follows a string of new restaurants which have recently opened in Fitzrovia, including Woodhead and MealTime Matalang.