A brighter future for the new-look Shaftesbury?
The combined entity has several new opportunities for growth and redevelopment
29 August 2024 - 08:00
IM’s last review of what is now Shaftesbury Capital was in August 2022, when it stood at R28.20 and IM rated the London-based property stock a sell.
Known as Capital & Counties (Capco) before the March 2023 merger with the Shaftesbury Group, the property group was battling high UK interest rates in 2022 and a more challenging operating environment in its prime Covent Garden property portfolio. Earnings had dipped into the red and the dividend was cut. In the months preceding IM’s recommendation, Capco’s share price had fallen 30%...
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