Shaftesbury rides out Brexit and retail storms

Carnaby Street

West End property group Shaftesbury defied the downturn in the fortunes of the high street by posting a small rise in net asset value (NAV) for the first six months of the year.

The owner of the 15-acre Soho, Carnaby Street, and Covent Garden estate posted a 0.4% rise in NAV to £9.95 for the half-year to the end of March, while net property income up 5.2% to £48.6m following a 6.4% like-for-like increase in rents receivable.

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