PLANNING CONSENT GRANTED FOR CHINATOWN BLOCK

SHAFTESBURY PLC

PLANNING CONSENT GRANTED FOR CHINATOWN BLOCK

Shaftesbury PLC, the West End-focused Real Estate Investment Trust, announces that Westminster City Council's Planning Committee yesterday evening resolved to grant consent for the Group's application to reconfigure and refurbish its substantial mixed-use retail, restaurant and bar ownership on the eastern boundary of Chinatown, which has extensive frontages to Charing Cross Road, Newport Court and Newport Place, London WC2.

The Group's scheme for the block, which it acquired in March 2014, involves the reconfiguration of space to provide approximately 32,000 sq. ft. of retail space, on Charing Cross Road, together with 13,500 sq. ft. of restaurant space principally fronting Newport Place. The refurbishment of the block will create much-improved quality of space for occupiers.

As well as providing a contiguous retail frontage to Charing Cross Road of some 100 metres, the scheme will materially enhance Newport Court, an important pedestrian route in to Chinatown. The relocation of restaurant space to Newport Place will create an enhanced dining destination within Chinatown.

Already recognised as one of the busiest parts of London's West End, Chinatown and Charing Cross Road are expected to see even greater in footfall when Crossrail opens in late 2018.

The Group expects to commence works early in 2016, with completion in mid-2017.

15 July 2015

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About Shaftesbury

Shaftesbury PLC is a Real Estate Investment Trust, which owns a unique real estate portfolio extending to 14 acres in the heart of London's West End - a highly popular, sought-after and prosperous destination for visitors and businesses. Our holdings are concentrated in Carnaby, Covent Garden, Chinatown, Soho and Charlotte Street.

Our objective is to deliver long-term outperformance in growth in rental income, capital values and shareholder returns.

We focus on retail, restaurants and leisure in the liveliest parts of the West End. Our portfolio now comprises 583 shops, restaurants, cafés and pubs, extending to 1 million sq. ft., which account for 72% of our current income. In our locations these uses have a long record of occupier demand exceeding their availability. It also includes 422,000 sq. ft. of offices and 509 apartments for rent, which provide 16% and 12%, respectively, of our current income.

In addition, we have a 50% interest in the Longmartin joint venture with The Mercers' Company, which has a long leasehold interest in St Martin's Courtyard in Covent Garden. Extending to 1.9 acres, it includes 22 shops, eleven restaurants and cafés, 102,000 sq. ft. of offices and 75 apartments.

Our proven management strategy is to create and foster distinctive, attractive and prosperous locations. Its implementation is supported by an experienced management team with an innovative approach to long-term, sustainable income and value creation and a focus on shareholder returns. We have a strong balance sheet with modest leverage.

Forward-looking statements

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Information contained in this document relating to Shaftesbury PLC or its share price, or the yield on its shares, should not be relied upon as an indicator of future performance.

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