Capital & Counties has forecast it will achieve a £100m rent roll by 2017 after seeing strong income growth at its Covent Garden estate.
The company is now attracting rents of £1,400 Zone A at James Street, W1, with the latest company to sign up Kikki.K, a premium stationery brand.
Additionally Covent Garden has new lettings at the Royal Opera House, with Harrods and Lulu Guinness taking short-term lets as the company seeks to reposition the asset.
CapCo also stated that investment will continue in Covent Garden with development of King’s Court and Carriage Hall set to compete on schedule.
Development work at Earls Court continues with £14m of acquisitions to support the masterplan.
Phase one is on track to complete in 2016 while phase two has seen the 70 flats released reserve at 5% higher rates than for phase one.
The venues at Earls Court may be considered for sale said CapCo while sales of shows at the Olympia site has progressed over the past six months.
Loan to value across the portfolio was just 16% according to the trading update.
