Shaftesbury Capital hails ‘positive’ West End trading as tourists return

British property giant Shaftesbury Capital announced Thursday that its West End locations have experienced a “positive” first half of the year as international visitors flocked back to stores.

The landlord, which was hit hard in recent years by lockdowns and low footfall, said customer sales across its portfolio are 15 percent ahead of pre-pandemic levels from 2019.

It said high footfall across the West End has been buoyed by increasing international visitor numbers.

It is the first financial update since Shaftesbury completed its merger with Capital & Counties Properties in March to become a new property group called Shaftesbury Capital.

CEO Ian Hawksworth said: “We are already seeing the benefits of the combined platform and with our strong balance sheet, we look forward with confidence on delivering further growth and returns in the years ahead.”

The valuation of its wholly owned portfolio remained unchanged at 4.9 billion pounds.

Looking ahead, the company said: “Despite economic uncertainties, a strong leasing pipeline and positive trading conditions across our West End locations provide us with confidence in the growth prospects for our unique portfolio.”