There is still money to be made on London’s most famous shopping streets, which have been resilient in the face of Brexit and amid a squeeze on the retail sector, according to Shaftesbury.
The property group and landlord in London, which owns land on Carnaby Street and in Soho and Covent Garden, has enjoyed a sharp rise in profits and has told investors that the capital’s West End has been “largely unaffected” by issues that have wiped out some retailers and forced others to close stores.
It said that the West End had avoided much of the turmoil on the national high street because brands still wanted a presence in the area and because shoppers there were less concerned about prices.
