Shaftesbury upbeat despite wider retail woes – in a trading statement covering the period from 1 April to 24 September, Shaftesbury, the owner of 15.2 acres of property in London’s West End, said:
- West End remains busy and our food, beverage, leisure and retail occupiers continue, on average, to report year-on-year sales growth.
- Continued good demand for regular space.
- Robust leasing activity with rents being achieved at or above ERV. Lease incentives stable.
- Vacancy remains low and consistent with long-term average:
- Much of their available space is under offer.
- Limited exposure to occupier insolvencies; where space has been handed back, it has re-let well.
- 72 Broadwick Street scheme – planning consent secured and works commenced.
- Thomas Neal’s Warehouse – Seven Dials Market opened recently.
- Further acquisitions completed, totalling GBP34.9 million since 1 April 2019.
SHB : Shaftesbury upbeat despite wider retail woes
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