Capital & Counties Properties PLC (C20.SG)

Shaftesbury Capital says trading conditions in London's West End 'positive'

British landlords heavily exposed to discretionary retailers and hospitality firms are gradually bouncing back to operational strength after pandemic-related restrictions had battered their revenue streams and property values. "Despite macroeconomic uncertainty, the heart of the West End remains attractive with competition for space in our areas anticipated to remain healthy, underpinning rental growth prospects," the company said on Thursday. Shaftesbury Capital, which is reporting its first set of financial results after two of London's major property firms completed their merger in March, said the valuation of its wholly-owned portfolio was unchanged from pro forma December 2022 figures.