Covent Garden JV writedown hurts Shaftesbury profit November 26, 2019 West End landlord Shaftesbury suffered a sharp drop in profit this year after taking a writedown on the value of a retail joint venture in Covent Garden. The figure Profit after tax fell from £175.5m to £26m due to the revaluation of the portfolio, which dipped 0.6 per cent to £4bn overall. However, the company’s [...]
Shaftesbury boosts West End property revenue as showdown with major shareholder looms May 21, 2019 West End landlord Shaftesbury’s war of words with its largest shareholder hotted up today as it announced a 5.2 per cent revenue boost in its first-half results. The company is facing a potential £10m claim from its largest investor – Hong Kong billionaire Samuel Tak Lee. Lee, who owns approximately 26 per cent of the [...]
West End landlord Shaftesbury braced for court row with tycoon shareholder May 2, 2019 A bitter row between a major London landlord and one of its largest shareholders has descended into threats of legal action this morning. FTSE 250 property giant Shaftesbury Group, which owns large parts of the West End including much of Carnaby Street and Chinatown, is braced for a court battle with Hong Kong billionaire Samuel Tak Lee [...]
West End landlord Shaftesbury braced for court row with tycoon shareholder May 2, 2019 A bitter row between a major London landlord and one of its largest shareholders has descended into threats of legal action this morning. FTSE 250 property giant Shaftesbury Group, which owns large parts of the West End including much of Carnaby Street and Chinatown, is braced for a court battle with Hong Kong billionaire Samuel Tak Lee [...]
West End property giant Shaftesbury posts ‘resilient’ retail demand ahead of investor showdown February 8, 2019 London landlord Shaftesbury said this morning that demand for retail space had been resilient over the crucial Christmas trading period, with consumers continuing to visit bars and restaurants in the firm’s West End portfolio during the festive season. The FTSE 250 group, which is bracing itself for a shareholder showdown at its Annual General Meeting (AGM) [...]
Shareholder feud mounts as Samuel Tak Lee plans to vote against re-election of Shaftesbury bosses February 7, 2019 The war of words between one of London’s largest landlords and a Hong Kong billionaire has escalated this morning in the run-up to an investor showdown set to take place tomorrow. Samuel Tak Lee, who owns a 26 per cent holding worth £700m in West End property group Shaftesbury, has revealed today that he will [...]
Investor groups back Shaftesbury board ahead of shareholder showdown February 3, 2019 West End landlord Shaftesbury has secured the support of two major investor groups as it braces for a showdown with shareholder Sammy Tak Lee at its annual general meeting this week. Hong Kong billionaire Lee, who owns 26 per cent of the property group, last week called on investors to vote against three resolutions allowing [...]
Sammy Tak Lee reignites feud with West End landlord over freedom to raise cash January 29, 2019 Hong Kong billionaire Sammy Tak Lee has ratcheted up a shareholder feud at one of London’s biggest landlords this morning, after telling investors to vote against resolutions that would allow the company to raise money through allocating more shares. West End property group Shaftesbury is bracing itself for its second investor revolt in two years after Lee, [...]
‘Business as usual’ as West End landlord Shaftesbury Group defies retail woes November 27, 2018 West End owner Shaftesbury Group reported higher take-up and rising asset values this morning, defying the retail gloom that has been forecasted for many of Britain’s high street landlords. The Chinatown and Carnaby Street property group posted lower vacancies across its £3bn portfolio, with net income rising by 6.2 per cent to £93.8m in the [...]
Property bosses clamp down on the white van man in bid to protect London business October 7, 2018 London’s landlords are declaring war on vehicle deliveries, amid fears that overcrowded and polluted streets are jeopardising business. Property heavyweights fear that worsening congestion is driving commuters, shoppers and tourists away from major destinations in the capital, as the rise of online purchasing leads to ever more delivery vans, motorbikes and lorries. Moves to pedestrianise [...]