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SHAFTESBURY CAPITAL PLC
(Incorporated and registered in the United Kingdom
with Registration Number 07145051)
JSE code: SHC ISIN: GB00B62G9D36
LEI: 549300TTXXZ1SHUI0D54
(the "Company" or "Shaftesbury Capital")
AGM TRADING UPDATE
Shaftesbury Capital, the leading central London mixed-use REIT, publishes a trading update ahead of the Company's
Annual General Meeting to be held at 11:30am (BST) today. This announcement includes unaudited financial
information in relation to the period from 1 January to 30 April 2026.
Ian Hawksworth, Chief Executive of Shaftesbury Capital, commented:
"Shaftesbury Capital has made a positive start to 2026, demonstrating the strength and resilience of our prime West
End portfolio. Despite an uncertain geopolitical backdrop, our portfolio continues to perform well, with 151 new leases
and renewals completed year to date, 5 and 18 per cent ahead of market rents and previous passing rents respectively.
There continues to be competitive demand for space in our high-footfall destinations. With high occupancy, a strong
leasing pipeline and backed by a very strong balance sheet, we remain confident in achieving our medium-term targets."
- 151 leasing transactions have completed in the year to date, representing #13.7 million of new contracted rent in
aggregate 5 per cent ahead of December 2025 ERV and 18 per cent ahead of previous passing rents.
- There is continued customer demand for our properties with high occupancy across the portfolio. Only 2.5 per cent of
ERV is available to let and an additional 1.2 per cent currently under offer.
- Continued momentum at Covent Garden, with recent transactions including the lease renewal for luxury jewellery
brand Tiffany & Co. on James Street and the introduction of Covent Garden Market Bar by Inception Group as well
as fragrance brand INITIO Parfums Prives in the Market Building. Burro, an original dining concept delivering high-
quality Italian cuisine, opened to critical acclaim in Floral Court. Seven Dials is now established as a home for premium
flagship retailing with new brands introduced including Code8 Beauty, Percival, MONC, and Islander.
- We are making progress in evolving Carnaby Street with seven new concepts introduced this year, including fashion
brand Edikted, which opened its first store outside the US, Sephora which will launch a new boutique format and first
West End store this summer, a debut UK location for Kookai, premium French outerwear brand K-Way, and an
upsized store for Subdued. Vagabond Wines is set to open a new Soho site on Ganton Street this summer while
Italian restaurant Padella recently opened on Kingly Street.
- Chinatown is fully occupied, new additions include POP MART which opened its largest London store on Charing
Cross Road following strong UK performance, and Darjeeling Express will upsize into a larger restaurant on Rupert
Street.
- Progress on asset management and refurbishment initiatives, with #12.3 million of ERV across 149,000 square feet
under refurbishment, representing 4.6 per cent of portfolio ERV. #16 million has been invested year to date in capital
expenditure and targeted acquisitions.
- Well-positioned for growth, expansion and investment with a strong balance sheet, access to significant liquidity
through #0.7 billion of undrawn bank facilities, loan to value of 17 per cent and net debt of #0.8 billion on a
proportionally consolidated basis. The #275 million exchangeable bond was repaid on maturity in March 2026 using
existing cash resources.
Enquiries:
Shaftesbury Capital PLC +44 (0)20 3214 9150
Ian Hawksworth Chief Executive
Situl Jobanputra Chief Financial Officer
Sarah Corbett Director of Commercial Finance and Investor Relations
Media enquiries:
UK: Hudson Sandler Michael Sandler +44 (0)20 7796 4133
UK: RMS Partners Simon Courtenay +44 (0)20 3735 6551
SA: Narrate Rachel Quigley +27 (0)11 447 3030
About Shaftesbury Capital
Shaftesbury Capital PLC ("Shaftesbury Capital") is the leading central London mixed-use REIT and is a constituent of
the FTSE-250 Index. Our property portfolio under management, valued at #5.4 billion, extends to 2.8 million square feet
of lettable space across the most vibrant areas of London's West End. With a diverse mix of shops, restaurants, cafes,
bars, residential and offices, our destinations include the high footfall, thriving neighbourhoods of Covent Garden,
Carnaby, Soho and Chinatown. Our properties are close to the main West End Underground stations and transport hubs
for the Elizabeth Line. Shaftesbury Capital shares are listed on the London Stock Exchange ("LSE") (primary) and the
Johannesburg Stock Exchange ("JSE") (secondary) and the A2X (secondary).
Our purpose
Investing to create thriving destinations in London's West End where people enjoy visiting, working, and living.
Our values
We have a set of values that are fundamental to our behaviour, decision making and the delivery both of our purpose
and strategy: Act with integrity; Take a creative approach; Listen and collaborate; Take a responsible, long-term view;
and Make a difference.
Forward-looking statements
This press release includes statements that are forward-looking in nature. Forward-looking statements involve known
and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements
of the Company to be materially different from any future results, performance or achievements expressed or implied
by such forward-looking statements. Any information contained in this press release on the price at which shares or
other securities in the Company have been bought or sold in the past, or on the yield on such shares or other securities,
should not be relied upon as a guide to future performance.
14 May 2026
Sponsor
Java Capital
Date: 14-05-2026 08:00:00
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