Shaftesbury Capital has further cemented its position in the heart of London by acquiring the freehold interests in properties located at 25-31 James Street, Covent Garden, for a sum of £75.1 million. This strategic purchase adds a significant mix of retail and residential spaces to its already robust portfolio in one of London’s most bustling areas.

The acquired properties boast a combined lettable space of 21,000 square feet, with 12,000 square feet dedicated to retail and the remaining 9,000 square feet allocated for residential and office use. With a current contracted rent of £3.9 million, Shaftesbury Capital sees this acquisition as not only a valuable addition but also an opportunity for asset management and potential rental growth.

Covent Garden, known for its vibrant atmosphere and status as a prime destination for shopping and tourism, continues to be a focal point within Shaftesbury Capital’s retail portfolio. This acquisition further enhances the company’s existing holdings on James Street, which is regarded as a principal retail avenue and a crucial entrance to the Covent Garden Piazza.

Over the past year, Shaftesbury Capital has successfully introduced an array of fashion and beauty brands to Covent Garden, including Arc’teryx, Missoma, Odd Muse, Creed, and Horace, reinforcing the area’s appeal to both consumers and tourists.

This latest addition increases Shaftesbury Capital’s total property portfolio to a valuation of £4.8 billion as of December 2023, spanning 2.9 million square feet of lettable space across London’s West End. The company’s diverse holdings include a mix of shops, restaurants, cafés, bars, residential properties, and offices, spread across high-footfall neighbourhoods such as Covent Garden, Carnaby, Soho, Chinatown, and Fitzrovia, showcasing its strategic focus on prime urban locations.