Rising Rents Boost Valuations For London West End Landlord

Rising rents across London’s tourist heartlands pushed up the value of Shaftesbury Capital Plc’s portfolio.

The landlord, which owns swathes of Covent Garden, Soho, China Town and Carnaby Street, reported values that rose 3.1% to £5.2 billion ($6.9 billion) in the six months through June, according to a statement Tuesday. That was driven by a 2.9% increase in its estimated rental values, it said. Earnings rose by 16% to 2.2 pence a share.