REG - Shaftesbury Capital - Acquisition of 25-31 James Street, Covent Garden

Shaftesbury CapitalAnnouncement

11/03/2024 07:00

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RNS Number : 2507G  Shaftesbury Capital PLC  11 March 2024

Press Release

11 March 2024

Acquisition of 25-31 James Street, Covent Garden

Shaftesbury Capital PLC ("Shaftesbury Capital") is pleased to announce that it
has completed the acquisition of the freehold interests in 25-31 James Street,
Covent Garden for £75.1 million (before costs).

The properties have a contracted rent of £3.9 million and comprise 21,000
square feet of lettable area, including 12,000 square feet of retail and 9,000
square feet of residential and office accommodation.

This acquisition presents asset management and rental growth opportunities as
well as complementing our existing ownership on James Street, a prime retail
street and key gateway into the Covent Garden Piazza. The acquisition follows
recent disposals totalling £145 million, 8 per cent ahead of valuation, and
recycles capital towards target assets.

Shaftesbury Capital continues to maintain access to liquidity through cash and
undrawn facilities. On a pro forma basis, liquidity following this acquisition
is £467 million.

 

Enquiries:

 Shaftesbury Capital PLC                                                         +44 (0)20 3214 9150
 Ian Hawksworth           Chief Executive
 Situl Jobanputra         Chief Financial Officer
 Michelle McGrath         Executive Director
 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: Instinctif      Frederic Cornet   +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, valued at £4.8 billion at December 2023, extends to 2.9 million
square feet of lettable space across the most vibrant areas of London's West
End. With a diverse mix of shops, restaurants, cafés, bars, residential and
offices, our destinations include the high footfall, thriving neighbourhoods
of Covent Garden, Carnaby, Soho and Chinatown, together with holdings in
Fitzrovia. 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.

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