Commercial landlord Shaftesbury, which owns around 600 buildings in London’s west end, has said that consumer spending is continuing to recover from the Covid-19 pandemic in spite of the UK’s cost-of-living crisis.

The firm on Tuesday said that the capital’s shopping district has recovered from the pandemic and will benefit from a Christmas free of lockdowns, while pubs and restaurants will benefit from the ongoing FIFA World Cup in Qatar.

Shaftesbury, which earlier this year merged with Capital & Counties Properties to create a £5 billion portfolio made up of retail and hospitality tenants, noted that its customers were reporting average monthly sales 6 per cent ahead of pre-pandemic levels.

The company also revealed that its EPRA Net Tangible Assets (a per-share measure that reflects the value of its buildings) rose to 6.41 pence from 6.19 pence in 2021.

Elsewhere in London, Regent Street stalwart Hamley’s has opened up a new 11,000sq ft retail location in Westfield White City. The new tate-of-the-art store features an indoor slide, a Playmobil play area, a Nerf target range and a Hans & Gretel dessert boutique.

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