Footfall across the West End returns to 86% of the December 2020 peak since reopening

Shaftesbury, the Real Estate Investment Trust which invests exclusively in the liveliest parts of London's West End, has seen footfall return to 86% of the peak in December in 2020, just before London was placed into the third lockdown.

Footfall has continued to build across the area following the reopening of non-essential shops, restaurants, cafes and bars on Monday 12 April. The Company expects this trend to continue in the weeks and months ahead as office workers, a vital part of the West End’s economy begin to return to the area and, with indoor hospitality expected to be permitted from mid-May, increasing numbers of visitors being able to return to the area’s world-famous hospitality offer.

To support the reopening, al fresco seating has been introduced across Carnaby, Chinatown, Fitzrovia, Seven Dials and Soho for over 3,000 people to provide safe, comfortable all-day dining opportunities for groups of up to six people, all while observing social distancing guidelines, bringing buzz and activity to the West End as people return to enjoy their favourite restaurant, bar or café.

Brian Bickell, CEO, commented:

“It has been heartening to see people returning in large numbers to our iconic streets over the past week, in a safe and secure manner. The West End is beginning to feel alive once more, which has been made possible by the commitment that our partners and local businesses share with us to kickstart its recovery. Now as we approach the next milestone, it is important that this momentum is maintained to ensure this positive start to the easing of lockdown is sustained.”

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Notes for Editors

About Shaftesbury

Shaftesbury is a Real Estate Investment Trust which invests exclusively in the liveliest parts of London’s West End. Focused on food, beverage, retail and leisure, our portfolio is clustered mainly in Carnaby, Seven Dials and Chinatown, but also includes substantial ownerships in East and West Covent Garden, Soho and Fitzrovia.

Extending to 16 acres, the portfolio comprises 611 restaurants, cafés, pubs and shops, extending to 1.1 million sq. ft., 0.4 million sq. ft. of offices and 624 apartments. All our properties are close to the main West End Underground stations and are within 10 minutes' walk of the two West End transport hubs for the Elizabeth Line, at Tottenham Court Road and Bond Street.

In addition, we have a 50% interest in the Longmartin joint venture, which has a long leasehold interest, extending to 1.9 acres, in St Martin's Courtyard in Covent Garden.

Our proven management strategy is to create and foster distinctive, attractive and prosperous locations. We have an experienced management team focused on delivering our objective of long-term growth in rental income, capital values and shareholder returns. We have a strong balance sheet with conservative leverage.

Our Purpose

Our purpose is to curate vibrant and thriving villages in the heart of London’s West End. Our proven management strategy is to create and foster distinctive, attractive and prosperous locations. We have an experienced management team focused on delivering our long-term strategic objectives, ultimately to deliver a positive, long-lasting contribution to the West End. We have a strong balance sheet with conservative leverage.

Our Values

At Shaftesbury, we have five core values that are fundamental to our behaviour, decision making and the delivery both of our purpose and strategic objectives: being human in how we operate, original in how we nurture talent and think, community minded in our approach to the West End, being responsible and long term in our approach to everything.

Since 2015, Shaftesbury has supported the UN Global Compact principles of sustainability and, in 2019, we integrated the UN Sustainable Development Goals into our sustainability strategy. We have long been committed to operating in a sustainable way. At the core of our sustainability strategy is reusing and improving, rather than redeveloping buildings. In doing so, Shaftesbury extends the useful economic lives of these buildings while preserving the West End’s rich heritage for future generations.

@shaftesburyplc shaftesbury.co.uk