Press Release
11
March 2024
Acquisition of 25-31 James
Street, Covent Garden
Shaftesbury Capital PLC ("Shaftesbury
Capital") is pleased to announce that it has completed the
acquisition of the freehold interests in 25-31 James Street, Covent
Garden for £75.1 million (before costs).
The properties have a contracted rent
of £3.9 million and comprise 21,000 square feet of
lettable area, including 12,000 square feet of retail and 9,000
square feet of residential and office accommodation.
This acquisition presents asset
management and rental growth opportunities as well as complementing our existing
ownership on James Street, a prime retail street and key gateway
into the Covent Garden Piazza.
The acquisition follows recent disposals totalling
£145 million, 8 per cent ahead of valuation, and recycles capital
towards target assets.
Shaftesbury Capital continues to
maintain access to liquidity through cash and undrawn facilities.
On a pro forma basis, liquidity following this acquisition is £467
million.
Enquiries:
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Shaftesbury Capital PLC
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+44 (0)20 3214 9150
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Ian Hawksworth
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Chief Executive
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Situl Jobanputra
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Chief Financial Officer
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Michelle McGrath
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Executive Director
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Sarah Corbett
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Director of Commercial Finance and
Investor Relations
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Media enquiries:
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UK: Hudson Sandler
UK: RMS Partners
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Michael Sandler
Simon Courtenay
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+44 (0)20 7796 4133
+44 (0)20
3735 6551
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SA: Instinctif
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Frederic Cornet
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+27 (0)11 447 3030
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About Shaftesbury Capital
Shaftesbury Capital PLC ("Shaftesbury
Capital") is the leading central London mixed-use REIT and is a
constituent of the FTSE-250 Index. Our property portfolio, valued
at £4.8 billion at December 2023, extends to 2.9 million square
feet of lettable space across the most vibrant areas of London's
West End. With a diverse mix of shops, restaurants, cafés, bars,
residential and offices, our destinations include the high
footfall, thriving neighbourhoods of Covent Garden, Carnaby, Soho
and Chinatown, together with holdings in Fitzrovia. 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 ("LSE") (primary) and the Johannesburg
Stock Exchange ("JSE") (secondary) and the A2X
(secondary).
Our
purpose
Investing to create thriving
destinations in London's West End where people enjoy visiting,
working, and living.