West End landlord Shaftesbury Capital shrugged off the cost of living crisis as custom surged past pre-pandemic levels.
The company, whose estate includes some of London’s swankiest areas from Carnaby Street to Covent Garden, said sales at shops, bars and other businesses run by tenants were 13 per cent up on their levels in 2019.
As tourists flock to areas like Chinatown and shops like Neal’s Yard, it is confident of a recovery in the central London area.
Sales up: Shaftesbury – whose estate includes London’s Covent Garden (pictured) – said sales at the shops, bars and other businesses run by its tenants were 13% stronger than in 2019
It was the first trading update since a £5billion merger in March between landlords Shaftesbury and Capital and Counties.
The tie-up has brought together Shaftesbury’s properties with its new partners, Capital and Counties, which boasts ownership of prestige sites such as Covent Garden market – home to brands such as Tom Ford and Chanel.
The merged company’s portfolio is made up of 670 buildings, including shops, offices and restaurants.
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