Landlord hails buoyant West End

By the Editorial Team · Thursday, July 30, 2026

Shaftesbury Capital reported significant increases in footfall, sales, and rental income across its West End properties, leading to a £228.1 million pre-tax profit in the first half of 2026. The company’s strong financial performance and rising demand from retailers and office workers indicate a broad recovery in London’s retail and leisure sectors, prompting a 16 percent boost in its interim dividend.

Shaftesbury Capital, one of London’s largest West End property owners, reported robust footfall and sales across its portfolio in Covent Garden, Soho, and Chinatown, signaling a strong recovery for the area’s retail and leisure sectors. The company, which manages around 640 properties over 40 acres, said trading has outperformed last year significantly.

Ian Hawksworth, Shaftesbury’s chief executive, described the current market as “very buoyant,” noting increased consumer spending and demand from both retailers and restaurateurs. He attributed recent gains to a combination of factors, including favorable weather and more people returning to city offices. “Footfall is significantly up, not just for our tenants but right across the West End, and sales are materially up on this time last year,” Hawksworth said.

Contrary to initial concerns that the recent warm weather might deter visitors, he observed that people have been eager to spend time outdoors and patronize air-conditioned venues. Hawksworth also pointed to the impact of office workers from nearby districts such as Fitzrovia and Holborn, many of whom visit the West End during lunch breaks or after work, boosting trading activity. He noted similar patterns in the City and Canary Wharf, indicating broader recovery across central London.

Shaftesbury Capital was formed in 2023 through the merger of Shaftesbury and Capital & Counties estates. Its portfolio includes offices, shops, restaurants, and residential units. The company has signed 226 new leases so far this year with average rents 18 percent higher than previous levels. Recent additions to its property mix include cosmetics retailer Sephora, Italian restaurant Burro, and French fragrance brand Matière Première, which opened its first UK shop in Covent Garden.

Financially, the group reported a pre-tax profit of £228.1 million for the first half of 2026, up from £173 million in the corresponding period last year. This improvement was supported by a £181 million increase in the valuation of its £5.6 billion portfolio. Annual rent income rose slightly to £219.5 million from £215 million at the start of the year, and the company projects that rents could approach £281 million annually within five years as leases are renewed at market rates.

Shaftesbury announced a 16 percent increase in its interim dividend, payable in late September, reflecting its strong financial position. Industry analysts highlighted the results as evidence that the West End’s occupier and investment markets remain resilient despite ongoing global economic uncertainties and political challenges.

Shares in Shaftesbury Capital saw a modest decline of 1.9 percent, closing at 143¼ pence.

This article was reported by synthesizing coverage from multiple independent news outlets to present a balanced, unbiased account. Read about our editorial standards. Spotted an error? Let us know.