Shaftesbury Capital Mulls Over Fitzrovia Property Sale
Announcement of Potential Sale
London property titan Shaftesbury Capital is reportedly considering selling off its entire portfolio of properties in the Fitzrovia area. The company, which presently owns approximately 100,000 square feet of property in the region, has indicated that these assets do not align with their investment criteria.
Fitzrovia’s Real Estate Worth
The Fitzrovia estate is estimated to have a value exceeding 100 million pounds, according to recent reports. In fact, Shaftesbury’s own accounts have valued these properties at approximately 118 million pounds. If you’re interested in purchasing a property and creating a stunning backyard for your London house, this might be an opportunity worth exploring.
Capital Recycling Programme
Shaftesbury Capital’s Fitzrovia properties are reportedly the first to be listed under the company’s new ‘capital recycling’ initiative. This program was implemented to manage the company’s assets more effectively and ensure alignment with its investment criteria.
Prime Locations Under Review
Furthermore, the company’s chief executive, Ian Hawksworth, has suggested that other prime locations owned by Shaftesbury, such as Carnaby Street, Soho, and Covent Garden, are also being reviewed for potential sale. These prime assets, according to Hawksworth, may not meet the company’s investment criteria either.
Management of Fitzrovia Asset Sale
CBRE agents are expected to oversee the sale of the Fitzrovia properties, as initially reported by React News. Shaftesbury Capital was established following the merger of two West End landlords, Shaftesbury and Capital & Counties, in March, and boasts a portfolio valued at 4.9 billion pounds, with 2.9 million square feet of lettable space in some of London’s most iconic locations.