Shaftesbury chief executive Jonathan Lane said that its Carnaby estate, located in the heart of the West End, had performed particularly well. 'Increases in footfall and demand are now being translated into meaningful rental growth,' he said. He added that, in the longer-term, The Crown Estate's£500 million redevelopment programme on Regent Street would also benefit the area.
In Covent Garden, Shaftesbury's holdings have re-centred on the Seven Dials area. 'Seven Dials is becoming recognised as a favoured location for distinctive brands and individual restaurants of high quality,' Lane Said. 'This is in contrast to the predominantly high street retailing on and to the south of Long Acre.'