Ian Hawksworth, CEO of Capital & Counties (CapCo), says the group’s fortunes have improved, helped by London’s economy, which is healthier than the rest of the UK’s. CapCo was one of the worst-performing property companies in 2016 following the Brexit referendum in May. The owner of iconic London assets Covent Garden and Earls Court saw its share price collapse 51.7% from R102.50 at the end of 2015 to R49.50 at the end of 2016. Its share price has since stabilised. It closed on Tuesday 0.97% higher at R50.17 a share, up 1.35% year to date. CapCo’s net rental income was boosted in the six months to June by a positive performance at its retail centric Covent Garden estate. It had also begun to make progress in expanding its other UK asset, Earls Court. "London is performing strongly compared with the rest of the UK. People are spending more on smart casual clothes and high fashion, which is helping Covent Garden," said Hawksworth. "We believe that CapCo is on a healthier path now post...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, Morningstar financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00.