Full Year Results 

Shaftesbury dented by Longmartin decline

Shaftesbury dented by Longmartin decline

A sharp devaluation in retail properties at Shaftesbury’s (SHB) Longmartin joint venture in Covent Garden weighed heavily on pre-tax profits in the commercial property group's end-September financial year. As a result, the joint venture's equivalent yield increased by 25 basis points to 3.89 per cent, while a valuation decline in larger shops caused a six basis point drop in the wholly owned portfolio to 3.47 per cent.

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