Chinatown landlord serves up income rise - News Summed Up

Chinatown landlord serves up income rise


The landlord that owns Chinatown and acres of Carnaby Street and Soho in London is proving it can weather the retail downturn better than its listed property rivals. Shaftesbury, which owns 600 shops, restaurants, cafés and pubs, achieved a 6.4 per cent increase in like-for-like rents in the six months to the end of March. That pushed net property income up 5.2 per cent to £48.6 million, though that was down on the 5.5 per cent income growth achieved during the same period last year. Shaftesbury, founded more than 30 years ago, has built a 15-acre estate in the heart of the West End worth almost £4 billion. It is a long-term investor and the largest provider of dining and leisure space in the area.…


Source: The Times May 21, 2019 23:03 UTC



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