Finance

Shaftesbury warns on second half rent collection

By 2020-06-10T08:10:00

Brian Bickell

Shaftesbury has warned that at least half its rent may not be collected in the second half of its financial year as the Carnaby Street owner reported a drop in the value of its portfolio as a result of the Covid-19 health crisis.

The value of Shaftesbury’s wholly owned properties fell 7.9% to £3.5bn during the six months to the end of March. The group, which also owns Chinatown, swung to a loss of £287.6m from a £38.7m pre-tax profit a year earlier.

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