Shaftesbury Capital

Last updated

Shaftesbury Capital
Company type Public limited company
Industry Property
Predecessor Liberty International
Founded1933
Headquarters London, United Kingdom
Area served
London
Key people
Jonathan Nicholls (Chairman)
Ian Hawksworth (CEO)
Products Commercial property investment and development
RevenueIncrease2.svg £195.1 million (2023) [1]
Increase2.svg £35.3 million (2023) [1]
Increase2.svg £750.4 million (2023) [1]
Website www.shaftesburycapital.com/en/index.html

Shaftesbury Capital, formerly Capital & Counties Properties plc, (Capco) is a United Kingdom-based property investment and development company focused on sites in the West End of London, including Covent Garden, Chinatown London and Carnaby Street, Soho.

Contents

It is listed on the London and Johannesburg stock exchanges and is a constituent of the FTSE 250 Index. [2]

History

Capital and Counties was incorporated in 1933 [3] and subsequently established a portfolio of property in London and the Home Counties. It was acquired by Transatlantic Holdings in 1992. [4]

In May 2010, Capital & Counties Properties (Capco) was demerged from Liberty International (formerly Transatlantic Holdings PLC). [5] The company had an interest in Great Capital Partnership (a 50-50 joint venture with Great Portland Estates which invested in commercial property in the Regent Street and Piccadilly areas), [6] but that entity sold its remaining asset in June 2013. [7] The company also had a large interest in the Earl's Court area but sold its interest (co-owned with Transport for London) to Delancey and a Dutch pension fund in November 2019. [8] It acquired REIT status in December 2019. [9]

In June 2020, Capital & Counties Properties agreed to purchase property tycoon Samuel Tak Lee's stake in its rival Shaftesbury. [10] The company acquired a 26.3% stake of Shaftesbury for a reported £436 million. [11] [12]

On 2 March 2023, the company announced the implementation of a proposed merger with British real estate investment trust Shaftesbury PLC. [13] The merger proposals saw Capital & Counties Properties changing its name to Shaftesbury Capital. [14]

Operations

The market value of the company's portfolio, which includes properties in Covent Garden, Seven Dials, Chinatown, Carnaby Street and Soho, was £4.7 billion as of 31 December 2023. [1] The company also has joint ownership of a residential scheme, Lillie Square, along with certain members of the Kwok family, who are major shareholders of Sun Hung Kai Properties. [15]

See also

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References

  1. 1 2 3 4 "Annual Results 2023" (PDF). Shaftesbury Capital. Retrieved 29 February 2024.
  2. ↑ "FTSE 250 Constituents". London Stock Exchange. Retrieved 1 March 2020.
  3. ↑ "Capital and Counties Limited". Companies House. Retrieved 15 April 2024.
  4. ↑ "Intu: History". Intu Properties. Archived from the original on 3 March 2017.
  5. ↑ Thomas, Daniel (9 March 2010). "Liberty demerger heralds new era". Financial Times . London. Retrieved 9 May 2010.
  6. ↑ "Capital and Counties shows growing momentum". Investors Chronicle. 2 March 2011. Retrieved 23 April 2011.
  7. ↑ "Great Capital Partnership sells Park Crescent West for £105 million". Europe Real Estate. 26 June 2013. Retrieved 1 March 2020.
  8. ↑ "Capital & Counties To Sell Earls Court Interests For GBP425 Million". Morning Star. 15 November 2019. Retrieved 1 March 2020.
  9. ↑ "Capital & Counties Properties converts to REIT status". Shares. 9 December 2019. Retrieved 1 March 2020.
  10. ↑ Bloomberg, Chris Hughes |. "Analysis | Covent Garden's Owner Makes a Smart Move on Soho". The Washington Post. Archived from the original on 11 June 2020. Retrieved 18 June 2020.
  11. ↑ "Capco agrees deal for significant stake in rival landlord Shaftesbury". Evening Standard. London. 1 June 2020. Retrieved 18 June 2020.
  12. ↑ "Property firm Capco buys HK tycoon's stake in London rival Shaftesbury". The Business Times. 2 June 2020. Retrieved 18 June 2020.
  13. ↑ "Shaftesbury and Capital & Counties merger scheme implemented". Morning Star. 2 March 2023. Retrieved 5 March 2023.
  14. ↑ "Capco to rename to Shaftesbury Capital after merger". A. J. Bell. 3 March 2023. Retrieved 5 March 2023.
  15. ↑ "Merger between Capital & Counties Properties PLC and Shaftesbury PLC". Competition and Markets Authority. 15 November 2022. p. 3. Retrieved 15 April 2024.


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