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] The company acquired a 26.3% stake of Shaftesbury for a reported £436 million.[9][10]

On 2 March 2023, the company announced the implementation of a proposed merger with Shaftesbury plc.[11] The merger proposals saw Capital & Counties Properties changing its name to Shaftesbury Capital.[12]

Operations

The company has a large portfolio focused on properties in Covent Garden.[13] 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. London. 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". The Washington Post. Archived from the original on 11 June 2020. Retrieved 18 June 2020.
  9. "Capco agrees deal for significant stake in rival landlord Shaftesbury". Evening Standard. London. 1 June 2020. Retrieved 18 June 2020.
  10. "Property firm Capco buys HK tycoon's stake in London rival Shaftesbury". The Business Times. 2 June 2020. Retrieved 18 June 2020.
  11. "Shaftesbury and Capital & Counties merger scheme implemented". Morning Star. 2 March 2023. Retrieved 5 March 2023.
  12. "Capco to rename to Shaftesbury Capital after merger". A. J. Bell. 3 March 2023. Retrieved 5 March 2023.
  13. "Capital & Counties to demerge Covent Garden as standalone REIT". Sharecast. 25 July 2019. Retrieved 1 March 2020.


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