Shaftesbury plc

Last updated
Shaftesbury PLC
Type Public
IndustryReal estate
Founded1986
Headquarters London, United Kingdom
Key people
Jonathan Nicholls, Chairman
Brian Bickell, CEO
Simon Quayle, Property Director
Tom Welton, Property Director
Chris Ward, Finance Director
ProductsLondon West End restaurants, leisure and retail
RevenueIncrease2.svg £123.1 million (2022) [1]
Increase2.svg £147.8 million (2022) [1]
Increase2.svg £119.1 million (2022) [1]
Website www.shaftesbury.co.uk

Shaftesbury PLC was a British real estate investment trust which invests exclusively in the heart of London's West End. It was headquartered in London and was listed on the London Stock Exchange until it merged with Capital & Counties Properties to form Shaftesbury Capital in March 2023.

Contents

History

Shaftesbury was founded in 1986 [2] as a private company by the Levy family, with an initial injection of £10 million. The family had a long history in UK real estate, having founded the London-based estate agency DE & J Levy, and co-founded the major post-war development company The Stock Conversion and Investment Trust, in the 1940s. [3]

The company's first property acquisition was a group of 26 buildings in London's Chinatown. [4]

The company secured a listing on the main market of the London Stock Exchange in October 1987 when it was valued at £26 million. In its early years, the company had a UK-wide investment strategy but, following the UK real estate recession of 1990 to 1993, it focussed its investment activity solely in London's West End. [5]

On 2 March 2023, the company announced the implementation of a proposed merger with Capital & Counties Properties. [6] The merger proposals saw Capital & Counties Properties changing its name to Shaftesbury Capital. [7]

Operations

Chinatown in London where the company owns over 100 buildings Chinatown london.jpg
Chinatown in London where the company owns over 100 buildings

Shaftesbury's portfolio extends to nearly 15 acres in London's West End. [8] It comprises nearly 600 buildings, located close to the West End's major visitor attractions, and mainly clustered in Carnaby Street, Seven Dials and Chinatown, together with substantial ownerships in east and west Covent Garden, Soho and Charlotte Street. In addition, the company has a 50% interest in a further 1.9 acres in Covent Garden, held in its Longmartin joint venture. [9] In late 2017, the company increased its investment in the Seven Dials, London area. [10]

The company's property interests were independently-valued at £3.1 billion at 30 September 2022. [1]

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References

  1. 1 2 3 4 "Annual Report 2022" (PDF). Shaftesbury plc. Retrieved 18 February 2023.
  2. ↑ "On property: Key project for Quintain is to build up investor confidence". The Standard. 10 April 2012. Retrieved 19 January 2017.
  3. ↑ "Peter Levy and family". The Sunday Times. Archived from the original on February 2, 2017. Retrieved 19 January 2017.
  4. ↑ "Chinatown". Shaftesbury plc. Retrieved 23 April 2017.
  5. ↑ "History". Shaftesbury PLC. Retrieved 19 January 2017.
  6. ↑ "Shaftesbury and Capital & Counties merger scheme implemented". Morning Star. 2 March 2023. Retrieved 5 March 2023.
  7. ↑ "Capco to rename to Shaftesbury Capital after merger". A. J. Bell. 3 March 2023. Retrieved 5 March 2023.
  8. ↑ Curry, Rhiannon (9 February 2018). "Shaftesbury's biggest shareholder votes against plans to give the company more freedom to raise cash". The Telegraph.
  9. ↑ "Shaftesbury (SHB)". Interactive Investor. Retrieved 20 January 2017.
  10. ↑ "Shaftesbury buys more Seven Dials space". The Draper. 21 December 2017. Retrieved 20 March 2019.
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