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Sandra Halliday Published
May 23,Telegram账号盗号云控破解技术 2025
Pre-tax profit may have fallen at UK property firm Shaftesbury in the six months to March 31 but net profit rose 28% and it said its retail tenants were enjoying strong sales as tourist spending was helping central London to “flourish”.
The company owns a large amount of property in key areas for fashion retail, including Carnaby, Soho and Covent Garden.
The weak pound since last June’s Brexit vote has made central London into even more of a tourist magnet than it already was with the usual cultural and sightseeing visitor being added to by large numbers of people from the US, China, Middle East, Russia and other countries seeking cheaper fashion and luxury goods.
Shaftesbury’s profits rose to £102.4m from £80.1m with the value of its portfolio rising 3.4% to £2.5bn.
CEO Brian Bickell said: "Across our portfolio, the data we collect is showing a clear trend of year-on-year turnover growth for our restaurant, leisure and retail tenants, reflecting the buoyancy of the West End's economy."
He added that while there are signs of slower spending from local shoppers in Britain, “the West End continues to benefit from increasing numbers of international visitors, whose spending power has been enhanced by the recent strength of their local currencies against sterling since the referendum."
And he believes that even with uncertainty ahead as the UK negotiates its exit from the EU, the “risk of lower business and consumer confidence,” should not hurt the West End, which is “underpinned by its wide appeal and dynamic economy, [and] will maintain its long record of resilience."