Tourism in the capital has helped boost rental demand for Shaftesbury’s retail outlets in the West End.
The company said in an interim management statement that demand for shop space was so high it was actively seeking new vacant possession of restaurants and larger shops so it could meet demand.
The number of vacant units fell from 27 to 21 “tiny” shops in the four months to the end of July.
The company said the building of a new shopping and leisure complex at St Martin’s Courtyard was progressing well and would be ready for tenants to fit-out from February with a view to trading by next summer.
Jonathan Lane, chief executive, is the subject of The Times’s Business ‘big shot’ column.
‘Investment column’, in The Independent, says it would be difficult to see beyond Shaftesbury if investors were looking for a top pick in the sector.
It recommends buying and holding for the longer term.
The shares closed down 25.3p at 370p amid a round of profit-taking in the sector.
18/08/09 Times 36, 37
Guardian 25
Independent 39, 40
