Business
Investor event and trading update
Investor event and trading update.
About this update from Shaftesbury Capital Plc
[{"type":"text","content":"\n\nPress Release\n27 November 2023\nInvestor event and trading update\nShaftesbury Capital PLC (\"Shaftesbury Capital\") today publishes a trading update ahead of its inaugural Investor Event, to be held at 10:30am (UK time) at The Royal Opera House, Covent Garden at which the senior management team will provide an insight into Shaftesbury Capital's unique, irreplaceable portfolio and its plans for growth. The presentation materials will be made available on the Group's website later today. This announcement includes unaudited financial information in relation to the period from 1 July 2023 to 15 November 2023 ('the period'). \nIan Hawksworth, Chief Executive, commented:\n\"Our excellent performance has continued into the second half, with a strong start to the Christmas trading period. The West End is one of the most vibrant global destinations with an unrivalled concentration of entertainment and cultural attractions. Footfall remains high and customer sales are tracking 12 per cent ahead of last year. There is excellent leasing momentum across all uses with 220 leasing transactions signed so far in the second half, at rents on average six per cent ahead of June 2023 ERV and a strong leasing pipeline.\nDespite the uncertain macroeconomic backdrop, our prime West End portfolio continues to demonstrate its resilience and appeal. Backed by our strong balance sheet, we look forward with confidence with a focus on delivering further growth and attractive returns as the leading central London mixed-use REIT.\"\nSummary\n· High footfall across our prime portfolio in the West End with a strong start to the Christmas trading period, customers reporting sales in aggregate 12 per cent above 2022 levels and 16 per cent above 2019 levels \n· Sustained demand across all uses; leasing activity in H2 totalling 220 transactions representing £15.6 million of rent, six per cent ahead of 30 June 2023 ERV\n· Year to date, 440 leasing transactions were completed, representing £30.2 million of rent, nine per cent ahead of 31 December 2022 ERV and introducing 50 new retail and hospitality brands and concepts\n· Vacancy remains low: 2.2 per cent of ERV available to let (30 June 2023: 2.5 per cent)\n·  ...