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London West-End property investor Shaftesbury said it was continuing to achieve rents at or above estimated rental values, as most of its retail occupiers enjoyed 'busy' conditions.
Vacancy remained low and consistent with the long-term average, the company added, while food, beverage, leisure and retail occupiers continued, on average, to report year-on-year sales growth.
'Our exceptional 15.2 acre portfolio, located in some of the busiest parts of the West End, continues to perform well,' chief executive Brian Bickell said.
'The small to medium-sized space we mostly provide, combined with our modest rental levels, are a considerable advantage in the current market, attracting good levels of interest.'
'Our long-established tenant selection strategy has ensured that we have been largely unaffected by high-profile retail and restaurant failures and restructurings.'
'We continue to convert our portfolio's reversionary potential into contracted income, whilst delivering further long-term growth in rental values.'
'During the period since 1 April 2019, leasing activity has been robust, rents continue to be achieved at or above ERV and lease incentive levels have remained stable.'
'Vacancy remains low and consistent with our long-term average; much of our available space is under offer.'
'Despite the uncertain political and macroeconomic backdrop, London's global city status continues to draw businesses and visitors from across the World, reinforcing the West End's long-term appeal and prospects.'