30th Sep 2015 07:23
LONDON (Alliance News) - Property company Shaftesbury PLC on Wednesday said footfall at its London properties was buoyant over the summer months and said it is making progress on its major projects.
The developer said footfall in its villages and trading across its estate of shops, restaurants, cafes, pubs and bars in the five months to the end of September has been very strong. This estate accounts for 72% of the company's rental income, it added.
It has seen rental growth robust across all spaces, driven by strong occupier demand and low vacancy and said it has made progress on its Charing Cross Road and Broadwick Street projects in central London.
The group added it continues to run the rule over potential acquisitions, but said the availability of assets to acquire which meet its investment criteria is slim as owners of the properties in prosperous areas are reluctant to sell.
Shaftesbury shares were up 1.7% to 921.5 pence on Wednesday morning.
By Sam Unsted; [email protected]; @SamUAtAlliance
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
SHB.L