West End landlord Shaftesbury has said that it say good footfall and increased trading volumes over the festive period and into January, whilst vacancy rates across its portfolio remained low.
In an update to the City, the group said: “Although longer-term political uncertainties continue, in recent months, confidence in the medium term prospects for the UK economy has stabilised and domestic consumer spending has been resilient. The West End, with its added advantage of world-class visitor attractions and an unrivalled choice of restaurants, cafés, bars and shops, continues to attract ever-growing numbers of international visitors, who are currently benefitting from advantageous currency exchange rates. These factors have contributed to good footfall and increased trading volumes across our locations over the traditionally busy festive period, and into January.
“With its exceptional visitor economy and diverse employment base, the long-term outlook for footfall and spending in the West End is positive, and underpins continuing good demand for accommodation in our carefully curated, popular locations. Throughout the period, vacancy rates in our portfolio have remained low, available space has attracted considerable interest and leasing activity has continued to meet our expectations.”