Pre-letting at 72 Broadwick Street, CarnabySource: RNS
Pre-letting at 72 Broadwick Street, Carnaby
Shaftesbury PLC announces it has entered into an agreement to let 32,000 sq. ft. to American fitness and lifestyle brand Equinox, in its major refurbishment scheme at 72 Broadwick Street, Carnaby.
Representing almost 50% of the scheme's 66,000 sq. ft. of commercial space, this transaction is a significant endorsement of both the scheme and Carnaby. It is expected the space will be handed over for fitting out by the end of 2020.
There is encouraging interest in the remaining commercial accommodation, which will complete in phases between autumn 2020 and spring 2021. In addition, the scheme will deliver 15 new apartments across 14,000 sq. ft., which are expected to be available to let in spring 2021.
18 December 2019
For further information:
Shaftesbury PLC 020 7333 8118
Brian Bickell, Chief Executive
RMS Partners 020 3735 6551
Simon Quayle, Property Director
Chris Ward, Finance Director
MHP Communications 020 3128 8100
Oliver Hughes/Reg Hoare
Shaftesbury is a Real Estate Investment Trust which invests exclusively in the liveliest parts of London's West End. Focused on food, beverage, retail and leisure, our portfolio is clustered mainly in Carnaby, Seven Dials and Chinatown, but also includes substantial ownerships in East and West Covent Garden, Soho and Fitzrovia.
Extending to 15.2 acres, the portfolio comprises 608 restaurants, cafés, pubs and shops, extending to 1.1 million sq. ft., 0.4 million sq. ft. of offices and 610 apartments. All our properties are close to the main West End Underground stations, which currently handle more than 225m passengers p.a., and within ten minutes' walk of the two West End transport hubs for the Elizabeth Line, at Tottenham Court Road and Bond Street, which long-term projections indicate could be handling 200 million passengers annually.
In addition, we have a 50% interest in the Longmartin joint venture, which has a long leasehold interest, extending to 1.9 acres, in St Martin's Courtyard in Covent Garden.
Our purpose is to curate vibrant and thriving villages in the heart of London's West End. Our proven management strategy is to create and foster distinctive, attractive and prosperous locations. We have an experienced management team focused on delivering our long-term strategic objectives, ultimately to deliver a positive, long-lasting contribution to the West End. We have a strong balance sheet with conservative leverage.
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