London’s West End Shows Signs of Coming Back to Life
- Shaftesbury’s vacancy rate edges lower after peaking in March
- Firm reports net loss after collecting just half of rent owed
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Life is finally returning to the shops and restaurants of London’s West End, says one of the district’s largest landlords.
The amount of empty space in Shaftesbury Plc’s properties across Chinatown, Soho and Covent Garden peaked at 11.9% at the end of March, the company said in a half-year earnings statement Tuesday. The vacancy rate has since edged lower as the easing of lockdown restrictions and gradual return of office workers ramps up demand for its stores and eateries.