Shaftesbury plc
{{short description|London-based quoted REIT}}
{{Infobox company
| name = Shaftesbury PLC
| logo = Shaftesbury logo.svg
| type = Public
| traded_as = {{ubl|{{lse|SHB}}|FTSE 250 component}}
| foundation = 1986
| location = London, United Kingdom
| key_people = Jonathan Nicholls, Chairman
Brian Bickell, CEO
Simon Quayle, Property Director
Tom Welton, Property Director
Chris Ward, Finance Director
| industry = Real estate
| products = London West End restaurants, leisure and retail
| revenue = {{increase}} £123.1 million (2022){{cite web|url=https://www.shaftesbury.co.uk/content/dam/shaftesbury/corporate/annual-report-2022/Shaftesbury-AR-2022.pdf.downloadasset.pdf|title= Annual Report 2022|publisher=Shaftesbury plc|access-date=18 February 2023}}
| operating_income = {{increase}} £147.8 million (2022)
| net_income = {{increase}} £119.1 million (2022)
| assets =
| num_employees =
| parent =
| subsid =
| homepage = [http://www.shaftesbury.co.uk www.shaftesbury.co.uk]
| slogan =
| footnotes =
}}
Shaftesbury PLC was a British real estate investment trust which invests exclusively in the heart of London's West End. It was headquartered in London and was listed on the London Stock Exchange until it merged with Capital & Counties Properties to form Shaftesbury Capital in March 2023.
History
Shaftesbury was founded in 1986{{cite web|url= https://www.standard.co.uk/business/markets/on-property-key-project-for-quintain-is-to-build-up-investor-confidence-6406066.html |work= The Standard |title= On property: Key project for Quintain is to build up investor confidence |date= 10 April 2012 |access-date= 19 January 2017}} as a private company by the Levy family, with an initial injection of £10 million. The family had a long history in UK real estate, having founded the London-based estate agency DE & J Levy, and co-founded the major post-war development company The Stock Conversion and Investment Trust, in the 1940s.{{cite web|url= http://www.thesundaytimes.co.uk/sto/business/BusinessRichList/article87491.ece |archive-url= https://web.archive.org/web/20170202014756/http://www.thesundaytimes.co.uk/sto/business/BusinessRichList/article87491.ece |url-status= dead |archive-date= February 2, 2017 |work= The Sunday Times |title= Peter Levy and family |access-date= 19 January 2017}}
The company's first property acquisition was a group of 26 buildings in London's Chinatown.{{cite web|url=http://www.shaftesbury.co.uk/en/portfolio/chinatown.html|title=Chinatown|publisher=Shaftesbury plc|access-date=23 April 2017}}
The company secured a listing on the main market of the London Stock Exchange in October 1987 when it was valued at £26 million. In its early years, the company had a UK-wide investment strategy but, following the UK real estate recession of 1990 to 1993, it focussed its investment activity solely in London's West End.{{cite web|url= http://www.shaftesbury.co.uk/en/about-us/history.html |work= Shaftesbury PLC |title= History |access-date= 19 January 2017}}
On 2 March 2023, the company announced the implementation of a proposed merger with Capital & Counties Properties.{{cite news|url=https://www.morningstar.co.uk/uk/news/AN_1677779837093334500/shaftesbury-and-capital--counties-merger-scheme-implemented.aspx| title=Shaftesbury and Capital & Counties merger scheme implemented|date=2 March 2023|newspaper=Morning Star|access-date=5 March 2023}} The merger proposals saw Capital & Counties Properties changing its name to Shaftesbury Capital.{{cite news|url=https://www.ajbell.co.uk/articles/latestnews/256992/brief-capco-rename-shaftesbury-capital-after-merger|title=Capco to rename to Shaftesbury Capital after merger|date=3 March 2023|newspaper=A. J. Bell| access-date=5 March 2023}}
Operations
Shaftesbury's portfolio extends to nearly 15 acres in London's West End.{{cite web|url=https://www.telegraph.co.uk/business/2018/02/09/shaftesbury-begins-fill-new-developments-west-end-shopping-holds/|title=Shaftesbury's biggest shareholder votes against plans to give the company more freedom to raise cash|first=Rhiannon|last=Curry|date=9 February 2018|publisher=The Telegraph}} It comprises nearly 600 buildings, located close to the West End's major visitor attractions, and mainly clustered in Carnaby Street, Seven Dials and Chinatown, together with substantial ownerships in east and west Covent Garden, Soho and Charlotte Street. In addition, the company has a 50% interest in a further 1.9 acres in Covent Garden, held in its Longmartin joint venture.{{cite web|url= http://www.iii.co.uk/articles/243801/boom-time-shaftesbury |work= Interactive Investor |title= Shaftesbury (SHB) |access-date=20 January 2017}} In late 2017, the company increased its investment in the Seven Dials, London area.{{cite web|url=https://www.drapersonline.com/news/shaftesbury-buys-more-seven-dials-space/7028294.article|title=Shaftesbury buys more Seven Dials space|date=21 December 2017|publisher=The Draper|access-date=20 March 2019}}
The company's property interests were independently-valued at £3.1 billion at 30 September 2022.
References
{{reflist|30em}}
External links
- {{official|http://www.shaftesbury.co.uk}}
{{Real estate in the United Kingdom}}
{{Authority control}}
Category:Companies based in the City of Westminster
Category:Real estate companies established in 1986
Category:Real estate investment trusts of the United Kingdom
Category:1986 establishments in the United Kingdom
Category:Companies formerly listed on the London Stock Exchange