Shaftesbury Capital

Shaftesbury Capital is a United Kingdom property investment and development company whose portfolio is concentrated in London's West End. The business owns, manages and develops mixed-use districts containing retail, hospitality, leisure, office and residential property. Its principal areas include Covent Garden and Seven Dials, Chinatown London, Carnaby Street and Soho, all of which are among central London's best-known destination environments. The company traces its corporate history to Capital and Counties, which was incorporated in 1933 and built a property portfolio covering London and the Home Counties. The business was acquired by Transatlantic Holdings in 1992. In May 2010, Capital & Counties Properties plc, commonly known as Capco, was separated from Liberty International, the former name of Transatlantic Holdings. After the demerger, Capco became an independently listed property group with a strategy increasingly centred on London assets. Capco previously had exposure to several significant London development and investment projects outside its current West End concentration. It held an interest in the Great Capital Partnership, a 50:50 joint venture with Great Portland Estates focused on commercial property around Regent Street and Piccadilly. That partnership disposed of its remaining asset in June 2013. Capco also held a substantial interest in the Earl's Court area alongside Transport for London. That interest was sold in November 2019 to Delancey and a Dutch pension fund, marking a further narrowing of the company's focus toward established central-London destinations. The company obtained real estate investment trust status in December 2019. In June 2020, Capco agreed to acquire a 26.3% interest in Shaftesbury plc from property investor Samuel Tak Lee. The transaction gave Capco a major strategic position in a company with complementary West End holdings. On 2 March 2023, Capco announced the implementation of its proposed merger with Shaftesbury plc. Following the combination, Capital & Counties Properties changed its name to Shaftesbury Capital. Shaftesbury Capital's operating model is based on the ownership and active management of clusters rather than on a broad, geographically diversified property portfolio. Its districts combine shops, restaurants, cafés, bars, cultural and leisure venues, offices and homes. This concentration allows the company to shape public realm, tenant mix, leasing strategy and destination identity across adjoining properties. The business therefore operates both as a real estate investor and as a manager of highly visible urban places. As reported for 31 December 2025, the company's portfolio had a market value of approximately £5.3 billion. The portfolio includes assets in Covent Garden, Seven Dials, Chinatown, Carnaby Street and Soho. Shaftesbury Capital also has joint ownership of the Lillie Square residential scheme with certain members of the Kwok family, major shareholders of Sun Hung Kai Properties. The company is listed on the London and Johannesburg stock exchanges and is a constituent of the FTSE 250 Index.

Shaftesbury Capital's history begins with Capital and Counties, a property business incorporated in 1933. In its earlier form, the company assembled property interests in London and the Home Counties. In 1992, it was acquired by Transatlantic Holdings, linking the business to the corporate group that later became Liberty International. A major structural change took place in May 2010, when Capital & Counties Properties plc, generally known as Capco, was demerged from Liberty International. The demerger established Capco as a separately listed property company and gave it a more distinct investment identity. Its activities included interests in prominent central-London locations and development opportunities. Capco was involved in the Great Capital Partnership, a 50:50 joint venture with Great Portland Estates that invested in commercial property in the Regent Street and Piccadilly areas. The partnership ultimately sold its remaining asset in June 2013. Capco also developed a substantial presence in the Earl's Court area through an interest held with Transport for London. That interest was sold in November 2019 to Delancey and a Dutch pension fund. The disposal of Earl's Court coincided with a clearer concentration on established West End destinations. In December 2019, Capco obtained real estate investment trust status, placing the company within the United Kingdom's REIT framework. The status reflected its role as a property investment business and formed part of its longer-term corporate structure. In June 2020, Capco agreed to acquire a 26.3% stake in Shaftesbury plc from Samuel Tak Lee. Shaftesbury owned and operated a complementary set of West End properties, including assets associated with Chinatown, Soho and Carnaby Street. The investment gave Capco a significant economic and strategic connection to a neighbouring London property platform. The relationship culminated in the combination of the two companies. On 2 March 2023, Capco announced that the proposed merger with Shaftesbury plc had been implemented. As part of the transaction, Capital & Counties Properties changed its name to Shaftesbury Capital. The enlarged company brought together major West End destinations, including Covent Garden, Seven Dials, Chinatown, Carnaby Street and Soho. Following the merger, Shaftesbury Capital's identity became centred on the ownership and active management of compact, high-profile urban districts. Rather than operating as a general property company with a widely dispersed portfolio, it focuses on mixed-use places where retail, restaurants, leisure, offices and homes operate together. This approach gives the company an active role in tenant selection, leasing, public-realm management, development and the long-term presentation of its destinations. The company also retains joint ownership of the Lillie Square residential development with certain members of the Kwok family, who are major shareholders of Sun Hung Kai Properties. As of 31 December 2025, the market value of the portfolio was reported as £5.3 billion. Shaftesbury Capital is listed in London and Johannesburg and forms part of the FTSE 250 Index.

• 2023

  Shaftesbury Capital created through merger

  [1]Shaftesbury Capitalen.wikipedia.org

  The merger of Capital & Counties Properties and Shaftesbury plc was implemented on 2 March, and Capco adopted the Shaftesbury Capital name.

• 2020

  Stake in Shaftesbury acquired

  [1]Shaftesbury Capitalen.wikipedia.org

  Capco agreed to acquire a 26.3% interest in Shaftesbury plc, creating a major strategic link between the two West End property companies.

• 2019

  Earl's Court interest sold

  [1]Shaftesbury Capitalen.wikipedia.org

  Capco sold its interest in the Earl's Court area, held with Transport for London, to Delancey and a Dutch pension fund in November.

• 2019

  REIT status obtained

  [1]Shaftesbury Capitalen.wikipedia.org

  The company obtained United Kingdom real estate investment trust status in December.

• 2013

  Great Capital Partnership exits its remaining asset

  [1]Shaftesbury Capitalen.wikipedia.org

  The Great Capital Partnership, a joint venture with Great Portland Estates, sold its remaining property investment in June.

• 2010

  Demerger from Liberty International

  [1]Shaftesbury Capitalen.wikipedia.org

  Capital & Counties Properties plc was demerged from Liberty International in May, becoming a separately listed property company commonly known as Capco.

• 1992

  Acquisition by Transatlantic Holdings

  [1]Shaftesbury Capitalen.wikipedia.org

  Capital and Counties was acquired by Transatlantic Holdings, the group later associated with Liberty International.

• 1933

  Capital and Counties incorporated

  [1]Shaftesbury Capitalen.wikipedia.org

  The corporate predecessor of Shaftesbury Capital was incorporated and subsequently developed a portfolio of property in London and the Home Counties.

A specialist owner, developer and active manager of mixed-use urban destinations in London's West End, with a portfolio built around retail, food and beverage, leisure, office and residential uses.

• Mixed-use West End destination

  Covent Garden and Seven Dials

  A central London destination combining retail, restaurants, cafés, leisure uses, offices and residential property. Shaftesbury Capital manages the area as an integrated district, with value derived from the relationship between its individual buildings, public spaces, tenant mix and visitor activity.

• Retail, food and beverage destination

  Chinatown London

  A West End district centred on Asian restaurants, food businesses, retail, leisure and surrounding mixed-use property. The destination forms part of Shaftesbury Capital's strategy of owning and actively managing concentrated cultural and commercial neighbourhoods.

• Mixed-use urban destination

  Carnaby Street and Soho

  A group of adjoining West End assets containing shops, hospitality venues, offices, leisure uses and other commercial premises. The portfolio is managed as a destination rather than as a collection of isolated buildings, allowing the company to coordinate leasing, place management and the identity of the area.

• Residential development

  Lillie Square

  A residential scheme jointly owned by Shaftesbury Capital and certain members of the Kwok family. It represents the company's residential investment exposure alongside its principal West End portfolio of retail, hospitality, office and mixed-use assets.

• 2023

  Implement the merger with Shaftesbury plcM&A

  Background

  Capco and Shaftesbury had complementary portfolios concentrated in London's West End, creating a rationale for combining their ownership and management platforms.

  Action taken

  The proposed merger was implemented on 2 March 2023, and Capital & Counties Properties changed its name to Shaftesbury Capital.

  Aftermath

  The enlarged company became the owner and manager of a broader collection of West End destinations, including Covent Garden, Seven Dials, Chinatown, Carnaby Street and Soho.

  Source

• 2020

  Acquire a strategic stake in Shaftesbury plcM&A

  Background

  Capco was seeking to strengthen its concentration in London's West End, while Shaftesbury owned complementary destinations including Chinatown, Soho and Carnaby Street.

  Action taken

  Capco agreed to purchase a 26.3% interest in Shaftesbury plc from Samuel Tak Lee.

  Aftermath

  The investment established a major strategic connection between the two companies and preceded their eventual merger.

  Source

• 2023

  Capital & Counties and Shaftesbury merger implemented[1]Shaftesbury Capitalen.wikipedia.org

  M&A · Leadership change

  The proposed merger between Capital & Counties Properties and Shaftesbury plc was implemented. Capital & Counties changed its name to Shaftesbury Capital, combining complementary West End property portfolios.

• 2020

  Capital & Counties acquires a major stake in Shaftesbury[1]Shaftesbury Capitalen.wikipedia.org

  M&A

  Capital & Counties Properties agreed to purchase a 26.3% interest in Shaftesbury plc from Samuel Tak Lee. The transaction strengthened Capco's position in the London West End and created a foundation for a later combination of the two property groups.

1. 1Shaftesbury Capitalen.wikipedia.org