LONDON (dpa-AFX) - Real estate investment trust Shaftesbury Plc (SHB.L) Monday, in its trading update for April 1 - August 20 period, said available-to-let vacancy at 31 July 2021 was down to 4.6 percent, with a further decrease to 4.1 percent by 13 August 2021, reflecting continuing leasing momentum.
The Group said it witnessed improved demand for Hospitality and leisure, reflecting confidence in the long-term prospects for its West End locations. While there were healthy occupier interest for shops, office Office enquiries, viewings and lettings continued at a steady pace as occupiers prepare for the return of their workforces.
The Group revealed that rent collections recovered during the period, and it is expected to improve further now with pandemic restrictions being relaxed.
Brian Bickell, Chief Executive, said,' I'm pleased to report positive momentum in recent months, with footfall and trading recovering, an improving operating environment and significantly reduced vacancy across our villages. West End footfall has, to date, recovered to 50-60% of pre-pandemic levels, as Londoners, domestic day trippers and staycation visitors return in growing numbers. We expect that early autumn will see a return of the West End's exceptionally large office-based working population, which has always been an important contributor to our local weekday economy.'
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