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, including Covent Garden, Chinatown London and Carnaby Street, Soho.
 | |
| Company type | Public limited company |
|---|---|
| Industry | Property |
| Predecessor | Liberty International |
| Founded | 1933 |
| Headquarters | London, United Kingdom |
Area served | London |
Key people | Jonathan Nicholls (Chairman) Ian Hawksworth (CEO) |
| Products | Commercial property investment and development |
| Revenue |  £195.1 million (2023)[1] |
| £35.3 million (2023)[1] | |
| £750.4 million (2023)[1] | |
| Website | www |
It is listed on the London and Johannesburg stock exchanges and is a constituent of the FTSE 250 Index.[2]
History
editCapital and Counties was incorporated in 1933[3] and subsequently established a portfolio of property in London and the Home Counties. It was acquired by Transatlantic Holdings in 1992.[4]
In May 2010, Capital & Counties Properties (Capco) was demerged from Liberty International (formerly Transatlantic Holdings PLC).[5] The company 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),[6] but that entity sold its remaining asset in June 2013.[7] The company also had a large interest in the Earl's Court area but sold its interest (co-owned with Transport for London) to Delancey and a Dutch pension fund in November 2019.[8] It acquired REIT status in December 2019.[9]
In June 2020, Capital & Counties Properties agreed to purchase property tycoon Samuel Tak Lee's stake in its rival Shaftesbury.[10] The company acquired a 26.3% stake of Shaftesbury for a reported £436 million.[11][12]
On 2 March 2023, the company announced the implementation of a proposed merger with British real estate investment trust Shaftesbury PLC.[13] The merger proposals saw Capital & Counties Properties changing its name to Shaftesbury Capital.[14]
Operations
editThe market value of the company's portfolio, which includes properties in Covent Garden, Seven Dials, Chinatown, Carnaby Street and Soho, was £4.7 billion as of 31 December 2023.[1] The company also has joint ownership of a residential scheme, Lillie Square, along with certain members of the Kwok family, who are major shareholders of Sun Hung Kai Properties.[15]
See also
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References
edit- ^ a b c d "Annual Results 2023" (PDF). Shaftesbury Capital. Retrieved 29 February 2024.
- ^ "FTSE 250 Constituents". London Stock Exchange. Retrieved 1 March 2020.
- ^ "Capital and Counties Limited". Companies House. Retrieved 15 April 2024.
- ^ "Intu: History". Intu Properties. Archived from the original on 3 March 2017.
- ^ Thomas, Daniel (9 March 2010). "Liberty demerger heralds new era". Financial Times. London. Retrieved 9 May 2010.
- ^ "Capital and Counties shows growing momentum". Investors Chronicle. 2 March 2011. Retrieved 23 April 2011.
- ^ "Great Capital Partnership sells Park Crescent West for £105 million". Europe Real Estate. 26 June 2013. Retrieved 1 March 2020.
- ^ "Capital & Counties To Sell Earls Court Interests For GBP425 Million". Morning Star. 15 November 2019. Retrieved 1 March 2020.
- ^ "Capital & Counties Properties converts to REIT status". Shares. 9 December 2019. Retrieved 1 March 2020.
- ^ 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.
- ^ "Capco agrees deal for significant stake in rival landlord Shaftesbury". Evening Standard. London. 1 June 2020. Retrieved 18 June 2020.
- ^ "Property firm Capco buys HK tycoon's stake in London rival Shaftesbury". The Business Times. 2 June 2020. Retrieved 18 June 2020.
- ^ "Shaftesbury and Capital & Counties merger scheme implemented". Morning Star. 2 March 2023. Retrieved 5 March 2023.
- ^ "Capco to rename to Shaftesbury Capital after merger". A. J. Bell. 3 March 2023. Retrieved 5 March 2023.
- ^ "Merger between Capital & Counties Properties PLC and Shaftesbury PLC". Competition and Markets Authority. 15 November 2022. p. 3. Retrieved 15 April 2024.
External links
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