**Summary of Shaftesbury Capital PLCs Final Results for the Year Ended 31 December 2025**
Shaftesbury Capital PLC, a leading central London mixed-use REIT, reported strong financial and operational performance for the year ended 31 December 2025. The company delivered growth in rental income, earnings, dividends, property valuation, and net tangible assets per share, highlighting its resilience and strategic focus in the dynamic London West End market.
**Key Highlights**
1. **Financial Performance**
**EPRA NTA** increased by 7.2% to 214.7 pence per share, delivering a total accounting return of 9.1%.
**Portfolio valuation** grew by 6.6% like-for-like to £5.4 billion, supported by a 6.2% increase in ERV to £270 million.
**Underlying earnings** improved by 12% to 4.5 pence per share, and **dividends** increased by 14% to 4.0 pence per share.
**Leasing transactions** totaled 434, representing £39 million in contracted rent, 10.3% ahead of December 2024 ERV.
2. **Operational Strength**
**High occupancy** with only 2.6% of ERV available to let, and strong footfall and customer sales in 2026.
**Portfolio investment** of £113.3 million in capital expenditure and acquisitions, enhancing asset management and rental growth opportunities.
**Strategic partnership** with Norges Bank Investment Management (NBIM) for the Covent Garden estate, underlining the portfolios quality and long-term appeal.
3. **Portfolio and Market Position**
**West End estates** continue to perform well, with vibrant destinations supported by high occupancy, footfall, and customer sales.
**Leasing demand** remains robust, with prime West End locations highly sought after by global brands.
**Active asset management** and curation ensure the portfolio remains distinctive and well-positioned to capture customer demand.
4. **Sustainability and Community Engagement:**
**Sustainability strategy** focuses on future-proofing heritage buildings and creating sustainable, healthy places.
**Progress towards 2030 carbon reduction targets** and a reset Net Zero Carbon target to 2040.
**Active community engagement** with initiatives supporting local employment and community cohesion.
5. **Financial Position and Outlook**
**Strong balance sheet** with enhanced liquidity and low leverage, positioning the company for growth and investment.
**Medium-term target** of 5-7% rental growth, supporting total property returns of 7-9% and total accounting returns of 8-10% per annum.
**Confidence in sustained long-term growth** in rental income, earnings, dividends, and property valuation.
**Conclusion**
Shaftesbury Capital PLC demonstrated robust performance in 2025, driven by its prime West End portfolio, strategic partnerships, and active asset management. The company is well-positioned for future growth, with a strong balance sheet, enhanced liquidity, and a clear focus on sustainability and community engagement. The outlook remains positive, with strong fundamentals supporting continued rental growth and value creation.