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Shaftesbury expects further pain

The West End landlord suffered as footfall to the capital's entertainment district plunged following successive lockdowns
December 15, 2020
  • Rent collection has underperformed the wider sector due to decline in footfall to the West End
  • November fundraising has considerably improved balance sheet strength 

Shaftesbury (SHB) is not your average commercial landlord. It has built a near-impossible to replicate portfolio in traditionally high footfall West End locations that have a unique cultural heritage, with Carnaby Street and Covent Garden accounting for two-thirds of its 16-acre estate. Yet with London’s pubs and hospitality venues facing their third period of shutdown this year as the capital is pushed into tier three, and international travel restrictions enduring, playing host to an entertainment mecca means the group has suffered more than most peers. 

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