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Shaftesbury PLC on Tuesday said it has expanded its West End portfolio with a new leasehold for commercial letting.
The London-based real estate investment trust acquired a 200 year ungeared leasehold interest for £27.5 million in the Soho neighbourhood of London, from the administrator of Berwick Street Securities LLP.
The leasehold is for the lower floors of 92-104 Berwick Street, which cover around 15,600 square feet of retail accommodation, with around 3,600 square feet suitable for restaurant uses.
‘With the recovery of the West End from the extended period of pandemic disruption now firmly established, the imminent opening of the Elizabeth Line, and Soho's special appeal to visitors and workers, we are confident in the letting and long-term growth prospects for this exceptional location,’ said Executive Director Simon Quayle.
Shares in Shaftesbury were up 0.4% to 574.50 pence each in London on Tuesday morning
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