Shaftesbury Capital

Shaftesbury Capital, formerly Capital & Counties Properties plc, (Capco) is a United Kingdom-based property investment and development company focused on sites in the West End of London. It is listed on the London and Johannesburg stock exchanges and is a constituent of the FTSE 250 Index.[2]

Shaftesbury Capital
TypePublic limited company
IndustryProperty
PredecessorLiberty International
Founded2010
HeadquartersLondon, United Kingdom
Area served
London
Key people
Ian Durant (Chairman)
Ian Hawksworth (CEO)
ProductsCommercial property investment and development
RevenueIncrease £74.1 million (2022)[1]
Decrease £(218.0) million (2022)[1]
Decrease £(211.8) million (2022)[1]
Websitewww.shaftesburycapital.com/en/index.html

History

In May 2010, Capital & Counties Properties was demerged from Liberty International (now renamed Intu Properties).[3] The company once had an interest in Great Capital Partnership (a 50-50 joint venture with Great Portland Estates which invested in commercial property in the Regent Street and Piccadilly areas),[4] but that entity sold its remaining asset in June 2013.[5] The company had a large interest in the Earl's Court area which then later sold its interest there (co-owned with Transport for London) to Delancey and a Dutch pension fund in November 2019.[6] It acquired REIT status in December 2019.[7]

In June 2020, Capital & Counties Properties agreed to purchase property tycoon Samuel Tak Lee’s stake in its rival Shaftesbury.[8][9] The company acquired a 26.3% stake of Shaftesbury for a reported £436 million.[10][11]

On 2 March 2023, the company announced the implementation of a proposed merger with Shaftesbury plc.[12] The merger proposals saw Capital & Counties Properties changing its name to Shaftesbury Capital.[13]

Operations

The company has a large portfolio focused on properties in Covent Garden.[14] The market value of the company's property portfolio as of 31 December 2022 was £1.7 billion.[1]

See also

References
  1. "Annual Results 2022" (PDF). Capital & Counties Properties. Retrieved 1 March 2023.
  2. "FTSE 250 Constituents". London Stock Exchange. Retrieved 1 March 2020.
  3. Thomas, Daniel (9 March 2010). "Liberty demerger heralds new era". Financial Times. Retrieved 9 May 2010.
  4. "Capital and Counties shows growing momentum". Investors Chronicle. 2 March 2011. Retrieved 23 April 2011.
  5. "Great Capital Partnership sells Park Crescent West for £105 million". Europe Real Estate. 26 June 2013. Retrieved 1 March 2020.
  6. "Capital & Counties To Sell Earls Court Interests For GBP425 Million". Morning Star. 15 November 2019. Retrieved 1 March 2020.
  7. "Capital & Counties Properties converts to REIT status". Shares. 9 December 2019. Retrieved 1 March 2020.
  8. Bloomberg, Chris Hughes |. "Analysis | Covent Garden's Owner Makes a Smart Move on Soho". Washington Post. Archived from the original on 11 June 2020. Retrieved 18 June 2020.
  9. "Capco invests £436 million to purchase Hong Kong tycoon's 20.9% stake in Shaftesbury". Invezz. 1 June 2020. Retrieved 18 June 2020.
  10. "Capco agrees deal for significant stake in rival landlord Shaftesbury". Evening Standard. 1 June 2020. Retrieved 18 June 2020.
  11. "Property firm Capco buys HK tycoon's stake in London rival Shaftesbury". The Business Times. 2 June 2020. Retrieved 18 June 2020.
  12. "Shaftesbury and Capital & Counties merger scheme implemented". Morning Star. 2 March 2023. Retrieved 5 March 2023.
  13. "Capco to rename to Shaftesbury Capital after merger". A. J. Bell. 3 March 2023. Retrieved 5 March 2023.
  14. "Capital & Counties to demerge Covent Garden as standalone REIT". Sharecast. 25 July 2019. Retrieved 1 March 2020.


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