Latest news with #ShaftesburyCapital
Fashion United
22-05-2025
- Business
- Fashion United
Shaftesbury Capital reports strong West End demand
Ahead of its Annual General Meeting today, Shaftesbury Capital PLC has released a positive trading update, highlighting strong occupational demand across its West End portfolio. The company reported 128 leasing transactions securing 11.3 million pounds in new contracted rent, which is also 9 percent above previous passing rents. Shaftesbury Capital's annualised rent roll has increased by 3 percent since the year-end on a like-for-like basis, reaching 210 million pounds. Occupancy remains high at 98.3 percent, with only 1.7 per cent of ERV available to let. Chief Executive Ian Hawksworth noted continued positive trends in footfall and sales, alongside high occupancy rates, with overall leasing activity running 8 percent ahead of December 2024 Estimated Rental Value (ERV). 'Customers recognise the exceptional features of London's West End with broad appeal to domestic and international businesses and visitors,' he said. 'We have a strong balance sheet and, despite current macroeconomic uncertainties, we are well-positioned to capitalise on further market opportunities in London's West End, delivering long-term sustained income and value growth for our shareholders," Hawksworth added. The portfolio also saw several new high-profile openings, including Nespresso, Dolce & Gabbana, Autry, and Farm Rio. Another important development was the completion of a 2.7 billion pounds long-term partnership with Norges Bank Investment Management (NBIM), the Norwegian sovereign wealth fund, for the Covent Garden estate, yielding approximately 570 million pounds in cash proceeds, which the company intends to use for enhanced investment and expansion opportunities. Year-to-date acquisitions of 34 million pounds across the portfolio are expected to provide further asset management and rental growth.
Fashion Network
22-05-2025
- Business
- Fashion Network
Shaftesbury Capital says London West End signings have accelerated this year
One of the West End of London's biggest retail landlords, Shaftesbury Capital, issued a trading update on Thursday saying it's continuing to see strong demand for its properties. The company controls key areas such as Carnaby Sreet, much of Soho and Covent Garden. CEO Ian Hawksworth cited year to date 'positive trends in footfall and sales, high occupancy and leasing activity overall 8% ahead of December 2024 ERV [estimated rental value]. Customers recognise the exceptional features of London's West End with broad appeal to domestic and international businesses and visitors. 'The establishment of our long-term Covent Garden partnership with NBIM [Norges bank] enhances growth and expansion opportunities across our portfolio whilst strengthening our financial position and providing significant optionality to the group. We have a strong balance sheet and, despite current macroeconomic uncertainties, we are well-positioned to capitalise on further market opportunities in London's West End, delivering long-term sustained income and value growth for our shareholders.' Recent months have seen strong occupational demand with 128 leasing transactions, representing £11.3 million of new contracted rent. The annualised rent roll has increased 3% since year end on a like-for-like basis, reaching £210 million. And it's seeing high occupancy with only 1.7% of ERV available to let compared to 2.6% at the end of last year. And the completion of the £2.7 billion long-term partnership with NBIM in respect of the Covent Garden part of its estate means around £570 million of cash proceeds provides 'financial flexibility for enhanced investment and expansion opportunities'. It has made £34 million of acquisitions across the portfolio in the year so far, 'presenting excellent asset management and rental growth opportunities'. The aforementioned completed 128 leasing transactions include Covent Garden signings such as Charlotte Tilbury, Alo and Dolce & Gabbana, alongside lettings to Swatch on James Street, Sunspel on Floral Street, Thule on Neal Street and social gaming experience Spyscape, which will open its debut UK location on Wellington Street. Recent signings on Carnaby Street include digitally native brand TALA, which is set to open its first store, joining Farm Rio, Missoma and Korean beauty store PureSeoul. There have also been a number of openings across Soho including Autry (only this week), De La Vali and Reign Wear. The company said its extensive marketing programme focusing on the consumer calendar continues to support the footfall and sales growth in its destinations. During the period, it hosted successful Chinese New Year festivities and events around the Easter trading period as well as several brand partnerships including Chanel on Covent Garden's Piazza.
Fashion Network
22-05-2025
- Business
- Fashion Network
Shaftesbury Capital says London West End signings have accelerated this year
One of the West End of London's biggest retail landlords, Shaftesbury Capital, issued a trading update on Thursday saying it's continuing to see strong demand for its properties. The company controls key areas such as Carnaby Sreet, much of Soho and Covent Garden. CEO Ian Hawksworth cited year to date 'positive trends in footfall and sales, high occupancy and leasing activity overall 8% ahead of December 2024 ERV [estimated rental value]. Customers recognise the exceptional features of London's West End with broad appeal to domestic and international businesses and visitors. 'The establishment of our long-term Covent Garden partnership with NBIM [Norges bank] enhances growth and expansion opportunities across our portfolio whilst strengthening our financial position and providing significant optionality to the group. We have a strong balance sheet and, despite current macroeconomic uncertainties, we are well-positioned to capitalise on further market opportunities in London's West End, delivering long-term sustained income and value growth for our shareholders.' Recent months have seen strong occupational demand with 128 leasing transactions, representing £11.3 million of new contracted rent. The annualised rent roll has increased 3% since year end on a like-for-like basis, reaching £210 million. And it's seeing high occupancy with only 1.7% of ERV available to let compared to 2.6% at the end of last year. And the completion of the £2.7 billion long-term partnership with NBIM in respect of the Covent Garden part of its estate means around £570 million of cash proceeds provides 'financial flexibility for enhanced investment and expansion opportunities'. It has made £34 million of acquisitions across the portfolio in the year so far, 'presenting excellent asset management and rental growth opportunities'. The aforementioned completed 128 leasing transactions include Covent Garden signings such as Charlotte Tilbury, Alo and Dolce & Gabbana, alongside lettings to Swatch on James Street, Sunspel on Floral Street, Thule on Neal Street and social gaming experience Spyscape, which will open its debut UK location on Wellington Street. Recent signings on Carnaby Street include digitally native brand TALA, which is set to open its first store, joining Farm Rio, Missoma and Korean beauty store PureSeoul. There have also been a number of openings across Soho including Autry (only this week), De La Vali and Reign Wear. The company said its extensive marketing programme focusing on the consumer calendar continues to support the footfall and sales growth in its destinations. During the period, it hosted successful Chinese New Year festivities and events around the Easter trading period as well as several brand partnerships including Chanel on Covent Garden's Piazza.
Fashion Network
08-05-2025
- Business
- Fashion Network
Sneaker label Autry picks London's Soho for UK debut
By Nigel TAYLOR Classic-contemporary unisex sneaker brand Autry has chosen London's Soho for its first UK store, with a 2,600 sq ft space on busy Beak Street. The property, operated by Shaftesbury Capital, reflects the brand'strademark '80s look but the vintage-style products come with a contemporary, sports-performance-oriented twist. The immersive boutique also mirrors Autry's 'celebration of American aesthetics, spirit, and sport heritage throughout its design with an Italian twist'. The latest opening for the brand comes after Italian private equity group Style Capital acquired a 50.2% stake in Autry International just over a year ago. It then announced a retail expansion plan that would see more than 20 Autry brand stores opening in luxury shopping destinations in Italy and abroad. Roberta Benaglia, founder and CEO of Style Capital, said: 'The opening of Autry's first flagship store in London marks a pivotal moment in the brand's journey. It's more than a retail milestone, it brings Autry's iconic values to life through a space that reflects our identity. London, with its cultural vibrancy and global spirit, was the natural first stage for this step. This boutique represents a new chapter in our strategy to build a strong international presence and connect with our global community, combining authenticity, quality, and a bold vision for the future.' Autry joins the high-in-demand retail neighbourhood that will see active brand TALA open on nearby Carnaby Street this month, plus Pangaia (also on Carnaby Street), and Salomon on Broadwick Street. Will Oliver, Retail director at Shaftesbury Capital, said: 'We've actively curated a leading collection of retailers in Soho, with Autry another high-quality addition to our community.'
Fashion Network
08-05-2025
- Business
- Fashion Network
Sneaker label Autry picks London's Soho for UK debut
Classic-contemporary unisex sneaker brand Autry has chosen London's Soho for its first UK store, with a 2,600 sq ft space on busy Beak Street. The property, operated by Shaftesbury Capital, reflects the brand'strademark '80s look but the vintage-style products come with a contemporary, sports-performance-oriented twist. The immersive boutique also mirrors Autry's 'celebration of American aesthetics, spirit, and sport heritage throughout its design with an Italian twist'. The latest opening for the brand comes after Italian private equity group Style Capital acquired a 50.2% stake in Autry International just over a year ago. It then announced a retail expansion plan that would see more than 20 Autry brand stores opening in luxury shopping destinations in Italy and abroad. Roberta Benaglia, founder and CEO of Style Capital, said: 'The opening of Autry's first flagship store in London marks a pivotal moment in the brand's journey. It's more than a retail milestone, it brings Autry's iconic values to life through a space that reflects our identity. London, with its cultural vibrancy and global spirit, was the natural first stage for this step. This boutique represents a new chapter in our strategy to build a strong international presence and connect with our global community, combining authenticity, quality, and a bold vision for the future.' Autry joins the high-in-demand retail neighbourhood that will see active brand TALA open on nearby Carnaby Street this month, plus Pangaia (also on Carnaby Street), and Salomon on Broadwick Street. Will Oliver, Retail director at Shaftesbury Capital, said: 'We've actively curated a leading collection of retailers in Soho, with Autry another high-quality addition to our community.'
