London West End property giant Shaftesbury Capital issued a trading update on Tuesday and it showed the four-month period from 1 July to 31 October was another one it which its enjoyed a “positive performance”.

The company owns vast tracts of key shopping areas like Soho, Caranaby and Covent Garden and CEO Ian Hawksworth said it has seen “continued momentum across the portfolio”. 

Its West End estates are “busy and vibrant through this important trading period, with high occupancy, footfall and sales volumes. [Some] 367 transactions have been completed year to date well ahead of [Estimated Rental Value] ERV and previous passing rents. As customers continue to prioritise the highest quality locations, enduring demand for our exceptional portfolio together with strong performance and a healthy leasing pipeline give us confidence in our medium-term targets”.

So what’s been happening? It saw the aforementioned 367 leasing transactions completed so far this year, representing £30.2 million of new contracted rent in aggregate 9% ahead of December 2024 ERV and 14% ahead of previous passing rents. 

Some 174 transactions representing £11 million were completed in H2 to date, 4.3% ahead of June 2025 ERV and 10% ahead of previous passing rents.

It’s seeing high occupancy across the portfolio with only 2.6% of ERV available to let and an additional 1.5% currently under offer.

The company added that its “comprehensive marketing programme has once again elevated our West End portfolio to be amongst London’s most vibrant festive destinations. With strong footfall and continued growth in customer sales, our exceptional West End portfolio is well positioned for the Christmas trading period and beyond”.

For Covent Garden, it’s seeing “strong momentum with a number of openings” including fragrance brand Byredo, French haute-parfumerie Parfums de Marly and lifestyle brand Kapten & Son.

Meanwhile Soho and Carnaby Street “continue to attract an exciting mix with a number of new concepts joining the extensive line-up this year” including Tala, Farm Rio and Pure Seoul. Luxury beauty brand Charlotte Tilbury recently opened its flagship store at the key entrance to Carnaby Street.