Shaftesbury (SHB)

Sector:

Property Investment Trusts

Index:

FTSE 250

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917.50p
   
  • Change Today:
      4.50p
  • 52 Week High: 1,055.00
  • 52 Week Low: 905.00
  • Currency: UK Pounds
  • Shares Issued: 307.30m
  • Volume: 230,124
  • Market Cap: £2,819.50m
  • RiskGrade: 59

Shaftesbury acquires more shops on Neal Street, anticipating Crossrail

By Oliver Haill

Date: Wednesday 20 Dec 2017

LONDON (ShareCast) - (ShareCast News) - London property developer Shaftesbury has snapped up six buildings on Neal Street near Covent Garden for £24.6m.
Adding to its 14.9 acre portfolio in London's West End, the FTSE 250 group acquired six buildings at the northern third of the popular shopping byway, with current contracted income of £0.6mn per year.

The shops, which cover 5,200 square feet and have sold-off residential accommodation above them, adjoin Shaftesbury's existing holdings and takes its ownership of shop frontage on Neal Street to around 70%.

The company has been having some trouble completing lettings for its larger properties, with last month's trading update revealing 54% of completed space was still not let or under offer across its three larger schemes, though a 22,800 sq ft Thomas Neal's Warehouse redevelopment had come under offer to a single occupier.

Chief executive Brian Bickell called its an "important acquisition".

"Situated close to the Tottenham Court Road Crossrail hub, the northern end of Neal Street is forecast to see material footfall growth once the Elizabeth Line service starts in December 2018.

"Current rental tones on this part of the street are significantly lower than at the southern end. However, with the benefit of growing footfall, together with the careful curation and coherent tenant selection strategy we will implement, we expect to see this differential in rents to narrow significantly over the medium term."

Earlier this month Shaftesbury raised £265m with a placing of ordinary shares at a price of 952p to fund a number of acquisitions, including 72 Broadwick Street for £92m and several smaller, previously-announced acquisitions.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Shaftesbury Market Data

Currency UK Pounds
Share Price 917.50p
Change Today 4.50p
% Change 0.49 %
52 Week High 1,055.00
52 Week Low 905.00
Volume 230,124
Shares Issued 307.30m
Market Cap £2,819.50m
RiskGrade 59

Shaftesbury Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
96.05% below the market average96.05% below the market average96.05% below the market average96.05% below the market average96.05% below the market average
100% below the sector average100% below the sector average100% below the sector average100% below the sector average100% below the sector average
Price Trend
50.1% below the market average50.1% below the market average50.1% below the market average50.1% below the market average50.1% below the market average
77.78% below the sector average77.78% below the sector average77.78% below the sector average77.78% below the sector average77.78% below the sector average
Income
96.39% below the market average96.39% below the market average96.39% below the market average96.39% below the market average96.39% below the market average
100% below the sector average100% below the sector average100% below the sector average100% below the sector average100% below the sector average
Growth
41.50% above the market average41.50% above the market average41.50% above the market average41.50% above the market average41.50% above the market average
50.00% above the sector average50.00% above the sector average50.00% above the sector average50.00% above the sector average50.00% above the sector average

What The Brokers Say

Strong Buy 1
Buy 0
Neutral 8
Sell 1
Strong Sell 2
Total 12
neutral
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Shaftesbury Dividends

  Latest Previous
  Interim Final
Ex-Div 14-Jun-18 18-Jan-18
Paid 06-Jul-18 16-Feb-18
Amount 8.30p 8.10p

Trades for 17-Aug-2018

Time Volume / Share Price
16:54 412 @ 914.46p
16:54 1,300 @ 913.87p
16:53 18 @ 912.67p
16:39 9,900 @ 917.50p
16:37 700 @ 914.34p

Shaftesbury Key Personnel

CEO Brian Bickell
Finance Director Christopher P A Ward
Chair Jonathan Nicholls

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