Shaftesbury, the West End property giant that's in talks about a merger with Capco, has reported what might be its last set of results before a merger is unveiled with footfall up and its portfolio value growing.
Landlord Shaftesbury, which owns a 16-acre portfolio in London's West End, has just got a little bigger in the retail area. The property giant has acquired a long leasehold in the lower floors of 92-104 Berwick Street.
As Covid curbs cut travel and duty-free shopping, South Koreans are driving a luxury goods boom at home that has left Chanel barring nearly a third of shoppers to stop bulk buyers snagging $10,000 bags for resale.
The West End’s recovery is under way and turnover should reach its pre-pandemic level of £10 billion by 2024. It should also beat pre-Covid levels by as much as 14% — or a further £1.4 billion — by 2025. .
Kenzo, Prada and Ambush are some of the many luxury labels active in the virtual world, whether commercialising NFTs or making significant investments in the metaverse, as Philipp Plein and Gucci did recently.