Covent Garden and Soho are “busy and vibrant” in the added to Christmas in charge of among the West End‘s greatest proprietors claimed today in a positive trading declaration.
Ian Hawksworth, president of Shaftesbury Capital, which additionally has estates in Chinatown and Seven Dials, claimed business was seeing “high footfall and good customer sales growth” throughout its profile
Shaftesbury possesses 2.7 million sq feet of lettable retail, friendliness and office in main London in addition to greater than 600 rental houses.
The business, which possesses spots location addressees such as Carnaby Street and the Covent Garden Market structure, claimed it has actually protected ₤ 15.9 numerous brand-new leases and revivals because July with rental fees up 9 percent. The 48 openings because the summertime consist of brand-new brand names such as Longines, Alta, Autry, Farm Rio, Aspinal, Barbour and Salomon.
It claimed: “Retail and hospitality leasing demand has been strong across our vibrant destinations with 48 new openings since July. There is good momentum across Seven Dials with eight new brands introduced since July. There is particularly positive performance from our Soho hospitality portfolio. Kingly Court continues to attract interest from multiple hospitality operators.
“Mediterranean concept Alta has signed following the redevelopment of units across two floors, creating a larger destination dining opportunity.
“Cheesecake specialist La Maritxu signed on Kingly Street, while the opening of Donutelier has introduced al fresco food on Carnaby Street at the gateway to Kingly Court. Eastern Mediterranean concept Delamina opened in Covent Garden while Suzhou Noodle and Noodle & Beer will open new restaurants in Chinatown.”
The business proceeded “the core West End occupational market continues to be strong, with excellent levels of leasing activity, low vacancy and continued customer sales growth. Available to let space has reduced to 2.1 per cent of ERV, which when combined with 0.6 per cent under offer results in total EPRA vacancy of 2.7 per cent.”
Hawksworth included: “We have completed £240 million of asset sales over the last 18 months and will continue to recycle capital into target acquisitions. We are well-positioned to deliver attractive long-term returns as the leading central London mixed-use REIT.”
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