Shaftesbury Capital: West End holdings “are busy and vibrant”

Property company Shaftesbury Capital, which owns retail properties in Covent Garden, Carnaby, Soho and Chinatown in London, has issued a trading update for the four months from July 1 to October 31, which it states was a “positive performance”.

In its trading statement, Shaftesbury Capital said that it has had 367 leasing transactions completed so far this year, representing 30.2 million pounds of new contracted rent in aggregate, 9 percent ahead of December 2024 ERV and 14 percent ahead of previous passing rents.

174 transactions representing 11 million pounds, were completed in H2 to date, 4.3 percent ahead of June 2025 ERV and 10 percent ahead of previous passing rents.

The company also added that it’s seeing high occupancy across the portfolio with only 2.6 percent of ERV available to let and an additional 1.5 percent currently under offer.

Ian Hawksworth, chief executive of Shaftesbury Capital, said: “We are pleased to report another period of positive performance, with continued momentum across the portfolio. Our West End estates are busy and vibrant through this important trading period, with high occupancy, footfall and sales volumes.

“367 transactions have been completed year to date well ahead of ERV and previous passing rents. As customers continue to prioritise the highest quality locations, enduring demand for our exceptional portfolio together with strong performance and a healthy leasing pipeline give us confidence in our medium-term targets.”

For areas doing well, Shaftesbury Capital said that Covent Garden was seeing “strong momentum” with a number of openings, including fragrance brand Byredo, French haute-parfumerie Parfums de Marly and lifestyle brand Kapten & Son. While Soho and Carnaby Street continue to attract “an exciting mix” with several new concepts joining the line-up this year, including Tala, Farm Rio, Pure Seoul and luxury beauty brand Charlotte Tilbury, which recently opened its flagship store at the key entrance to Carnaby Street.

Looking ahead to the important festive retail season, the company adds that its “comprehensive marketing programme” has once again elevated its West End portfolio, “to be amongst London's most vibrant festive destinations,” and with strong footfall and continued growth in customer sales, its tenants are “well positioned for the Christmas trading period and beyond”.