Shaftesbury and Capital & Counties have completed their all-share merger to form a new company called Shaftesbury Capital. The company has a 2.9m sq ft portfolio of assets in iconic London locations, such as Covent Garden, Soho and Chinatown.
The portfolio was valued at £4.9bn as at 31 December 2022 and according to Shaftesbury Capital there is ‘significant revenue growth potential, to be delivered through incremental asset management opportunities, dynamic leasing and strategic consumer marketing strategies, enhanced connectivity of adjacencies, leveraging insights from its improved access to valuable data and cross-location marketing opportunities’.
Ian Hawksworth, chief executive of the new entity, said: “Today we are delighted to complete the merger, bringing together two highly complementary portfolios to create the leading central London mixed-use REIT, Shaftesbury Capital. We look ahead with confidence, with an experienced and talented team, to deliver long-term economic and social value for stakeholders and contribute to the success of the West End.”
Trading of shares under the businesses’ new name will commence tomorrow (Tuesday).
