Wrap Text
SHAFTESBURY CAPITAL PLC
(Incorporated and registered in the United Kingdom
with Registration Number 07145051 and
registered in South Africa as an external company
with Registration Number 2010/003387/10)
JSE code: SHC ISIN: GB00B62G9D36
LEI: 549300TTXXZ1SHUI0D54
("Shaftesbury Capital")
TRADING UPDATE
Shaftesbury Capital PLC today publishes a trading update for the period 1 July to 31 October 2025.
Ian Hawksworth, Chief Executive of Shaftesbury Capital, commented:
"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."
HIGHLIGHTS:
- 367 leasing transactions completed in year to date, representing #30.2 million of new contracted rent
in aggregate 9 per cent ahead of December 2024 ERV and 14 per cent ahead of previous passing
rents. 174 transactions representing #11 million, completed in H2 to date, 4.3 per cent ahead of June
2025 ERV and 10 per cent ahead of previous passing rents.
- High occupancy across the portfolio with only 2.6 per cent of ERV available to let and an additional
1.5 per cent currently under offer.
- Our comprehensive marketing programme has once again elevated our West End portfolio to be
amongst London's most vibrant festive destinations. With strong footfall and continued growth in
customer sales, our exceptional West End portfolio is well positioned for the Christmas trading period
and beyond.
- There is strong momentum across Covent Garden with a number of openings including fragrance
brand Byredo, French haute-parfumerie Parfums de Marly and lifestyle brand Kapten & Son. Harry's
Bar opened its flagship on the Piazza while Danish coffee bar Hagen recently opened nearby. Burro,
a new concept from the team behind Trullo has signed to Floral Court.
- Soho and Carnaby Street continue to attract an exciting mix with a number of new concepts joining
the extensive line-up this year including Tala, Farm Rio and Pure Seoul. Luxury beauty brand
Charlotte Tilbury recently opened its flagship store at the key entrance to Carnaby Street. The dining
offer continues to evolve, with the opening of Heard on Foubert's Place, alongside pizza and natural
wine concept Ria's. Northern Spanish-inspired ALTA has opened in Kingly Court and Soho icon The
Shaston Arms, has relaunched under new management.
- Premium sushi brand, Sushinoya, created by Dong Hyun Kim, the founder of Wasabi has opened in
Chinatown, while Experimental Cocktail Club has relaunched on Gerrard Street including a new live
music programme.
- Continued progress on asset management and refurbishment initiatives, with #10.7 million of ERV
across 134,000 square feet under refurbishment, representing 4.1 per cent of portfolio ERV.
Approximately 23 per cent is pre-let, representing #2.4 million of rental income.
- Shaftesbury Capital has a strong balance sheet and maintains an active approach to capital
allocation. #80 million (before costs) has been invested year to date in targeted acquisitions. These
prime, well-located assets provide further growth and asset management opportunities.
- In October 2025, the Covent Garden partnership entered into a new #300 million unsecured revolving
credit facility with an initial maturity of five years and the ability to extend the facility for a
further two years.
- Shaftesbury Capital also completed the early repayment of a #200 million senior unsecured term loan
in October using cash resources. Taking account of acquisitions and financing activity, the Group's
pro forma EPRA loan-to-value ratio (based on June valuations) is 17 per cent and net debt is
#0.8 billion on a proportionally consolidated basis. The Group has access to significant liquidity
through #675 million of undrawn facilities and over #300 million of cash.
This announcement includes unaudited financial information in relation to the period from 1 July 2025 to
31 October 2025.
Enquiries:
Shaftesbury Capital PLC +44 (0)20 3214 9150
Ian Hawksworth Chief Executive
Situl Jobanputra Chief Financial Officer
Sarah Corbett Director of Commercial Finance and
Investor Relations
Media enquiries:
UK: Hudson Sandler Michael Sandler +44 (0)20 7796 4133
UK: RMS Partners Simon Courtenay +44 (0)20 3735 6551
SA: Instinctif Rachel Quigley +27 (0)11 447 3030
About Shaftesbury Capital
Shaftesbury Capital PLC is the leading central London mixed-use REIT and is a constituent of the FTSE-250
Index. Our property portfolio under management, valued at #5.2 billion, extends to 2.7 million square feet of
lettable space across the most vibrant areas of London's West End. With a diverse mix of shops, restaurants,
cafes, bars, residential and offices, our destinations include the high footfall, thriving neighbourhoods of
Covent Garden, Carnaby, Soho and Chinatown. Our properties are close to the main West End Underground
stations and transport hubs for the Elizabeth Line. Shaftesbury Capital shares are listed on the London Stock
Exchange (primary) and the Johannesburg Stock Exchange (secondary) and the A2X (secondary).
Our purpose
Investing to create thriving destinations in London's West End where people enjoy visiting, working, and
living.
Our values
We have a set of values that are fundamental to our behaviour, decision making and the delivery both of our
purpose and strategy: Act with integrity; Take a creative approach; Listen and collaborate; Take a
responsible, long-term view; and Make a difference.
Forward-looking statements
This press release includes statements that are forward-looking in nature. Forward-looking statements
involve known and unknown risks, uncertainties and other factors which may cause the actual results,
performance or achievements of the Company to be materially different from any future results, performance
or achievements expressed or implied by such forward-looking statements. Any information contained in this
press release on the price at which shares or other securities in the Company have been bought or sold in
the past, or on the yield on such shares or other securities, should not be relied upon as a guide to future
performance.
2 December 2025
Sponsor
Java Capital
Date: 02-12-2025 09:00:00
Supplied by www.sharenet.co.za
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
Sharenet Sites 
