Shaftesbury Capital has completed 151 leasing transactions across its prime Central London estate since the start of 2026, securing £13.7m in new contracted rent as demand for high-profile West End space remains strong.
The real estate investment trust said the deals were agreed at rents averaging 18% ahead of previous passing levels, underlining continued confidence in key retail, leisure and hospitality destinations despite wider economic uncertainty.
In a trading update released ahead of its annual general meeting, the group revealed that just 2% of estimated rental value across its portfolio is currently available to let, with a further 1.2% already under offer.
Across Covent Garden, a series of new lettings and renewals have continued to strengthen the destination’s luxury and lifestyle appeal. Tiffany & Co. renewed its lease on James Street, while new arrivals include Covent Garden Market Bar by Inception Group and fragrance retailer INITIO Parfums Privés within the Market Building. Dining concept Burro has also opened in Floral Court.
At Seven Dials, new occupiers include Code8 Beauty, menswear label Percival, eyewear brand MONC and outdoor-inspired retailer Islander.
Carnaby Street has also seen significant activity, with seven new concepts introduced so far this year. These include fashion retailer Edikted, opening its first store outside the United States, and Sephora, which is preparing to launch its first West End location this summer. French fashion brands Kookaï and K-Way have also arrived, alongside an expanded store for Subdued.
Elsewhere in Soho, Vagabond Wines is set to open a new venue on Ganton Street, while Italian restaurant Padella has launched on Kingly Street.
Shaftesbury Capital’s Chinatown estate has now reached full occupancy following the opening of POP MART’s largest London store on Charing Cross Road and the expansion of Darjeeling Express into a larger Rupert Street restaurant.
The group also confirmed continued investment into refurbishment and asset management initiatives, with £12.3m of estimated rental value currently under refurbishment across 149,000 sq ft of space. Since the start of the year, Shaftesbury Capital has invested £16m into capital expenditure and targeted acquisitions.
Chief executive Ian Hawksworth said the business had made a strong start to 2026, highlighting robust leasing demand, high occupancy levels and the resilience of the company’s prime West End portfolio.
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