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The owner of retail property in London’s West End risks seeing the value of its portfolio drop as interest rates rise—which is a kind of standard process. But we expect that most of the adjustments were already made and reflected in the present valuation.
The real estate investment trust is a combination of Capco and Shaftesbury that’s set to close in the first quarter of 2023. It’s primarily involved in retail in areas of the capital (Covent Garden, Chinatown) that are benefiting from increased tourist traffic due to the weakened pound. The REIT has the potential to recover more quickly than its peers if a rebound comes later this year as current recession risks eventually fade.
Knowledge is power.
