Shaftesbury profits off “strong demand” for West End
Strong demand across its West End spaces propelled property firm, Shaftesbury Capital, to a 13% rise in sales, the company said.
Ahead of its annual general meeting, it posted a trading update showing it had 173 leasing transactions agreed, a 6% rise from 31 Dec 2022.
The company hailed “positive progress” in introducing new brands and concepts against a turbulent economic backdrop.
Ian Hawksworth, chief executive of Shaftesbury Capital said: “We are pleased with the first 100 days of activity across Shaftesbury Capital with the integration of our business and talented team progressing well. We are encouraged by operational progress, prospects for our prime West End portfolio and the benefits we are seeing from the combined platform.
He added “Our portfolio has delivered a strong operating performance reflecting its exceptional qualities and long-term resilience. Against a backdrop of macroeconomic uncertainty, demand for space in our West End locations continues to be strong across all uses.”