Nature of Business
Shaftesbury Capital PLC is a property investment and development company in London and South Africa. Shaftesbury Capital’s portfolio is vast, extending across 16 acres and boasting 611 establishments, including restaurants, cafes, pubs, and shops.
These properties have a combined area of 1.1 million sq. ft, alongside 0.4 million sq. ft. of office space and 624 apartments.
In addition to these prime locations, Shaftesbury Capital has a 50% interest in the Longmartin joint venture. This partnership holds a long leasehold interest in St Martin’s Courtyard, an area of 1.9 acres in Covent Garden.
Shaftesbury Capital PLC Shares at a Glance
⭐ CEO | Brian Bickell |
🇬🇧 Headquarters | London, United Kingdom |
☎️ Telephone Number | None |
📅 Founded | 1986 |
Number of Employees | 52+ |
💰 Revenue | R2.8 billion |
📊 Current Zeda Share Price | View Graph |
🌐 Wikipedia Page | Shaftesbury Capital |
🌐 Official LinkedIn Page | Shaftesbury Capital |
🌐 Official Twitter Page | @shaftesburyplc |
🌐 Official Facebook Page | None |
🌐 Official Instagram Page | @shaftesburyplc |
🌐 Official YouTube Page | None |
📈 Traded as: | Johannesburg Stock Exchange (JSE: SHC) |
Overview of Shaftesbury Capital PLC
Shaftesbury Capital PLC is a UK-based real estate investment trust (REIT) that primarily invests in and manages commercial and residential properties in London’s West End.
Shaftesbury Capital PLC’s portfolio includes a diverse range of retail, leisure, and residential properties. Shaftesbury Capital PLC is known for its significant presence in the West End and is one of the largest real estate owners in the area.
Shaftesbury Capital PLC’s business model is based on acquiring, managing, and enhancing properties, focusing on maximising value for its shareholders. It aims to create vibrant, attractive, and sustainable environments that attract many tenants and customers.
Shaftesbury Capital PLC’s properties are in highly sought-after areas, such as Soho, Covent Garden, and Chinatown, and benefit from high footfall and strong demand.
Furthermore, Shaftesbury Capital PLC focuses on enhancing its properties by investing in upgrades, renovations, and redevelopments to increase their value and appeal to tenants and customers.
The firm’s tenant base includes a diverse range of retail, leisure, and hospitality businesses and office and residential tenants.
Furthermore, Shaftesbury Capital PLC aims to provide an attractive and supportive environment for its tenants, which in turn helps to drive footfall and enhance the value of its properties.
Shaftesbury Capital PLC Background
- In May 2010, Liberty International (now known as Intu Properties) demerged Capital & Counties Properties.
- The company previously held a stake in Great Capital Partnership, a joint venture with Great Portland Estates that invested in commercial property in the Regent Street and Piccadilly areas but divested its remaining asset in June 2013.
- Capital & Counties Properties also had a significant interest in the Earl’s Court area, which it later sold to Delancey and a Dutch pension fund in November 2019, relinquishing its co-ownership with Transport for London.
- The company was granted REIT (Real Estate Investment Trust) status in December 2019.
- In June 2025, Capital & Counties Properties agreed to acquire a stake of 26.3% in its rival Shaftesbury for a reported £436 million, purchasing property tycoon Samuel Tak Lee’s stake.
- On 2 March 2025, Capital & Counties Properties announced its proposed merger with Shaftesbury plc. As per the merger proposals, the company will rebrand as Shaftesbury Capital PLC.
Highlights
- In March 2025, Shaftesbury Capital PLC announced an all-share merger with Capital & Counties Properties PLC. Resulting in the formation of Shaftesbury Capital PLC.
- After the merger, the London-based property investment and development company changed its leadership team. Jonathan Nicholls has been appointed as the non-executive chair. In contrast, Chris Ward has taken on the role of a chief operating officer. Additionally, Richard Akers has been appointed as the senior independent director.
Shaftesbury Capital PLC Financial Performance
Good
- Analysts have set a target price for Shaftesbury Capital PLC that is more than 20% higher than its current share price, and they are within a statistically confident range of agreement.
- Shaftesbury Capital PLC’s forecast earnings growth of 29.9% per year is above the savings rate of 9.2%.
- The company’s earnings are expected to grow faster than the ZA market, with forecast growth of 29.9% per year compared to 9.7% per year.
- Shaftesbury Capital PLC’s earnings are expected to grow significantly over the next 3 years.
- The company’s revenue is forecast to grow faster than the ZA market, with a growth of 8.2% per year compared to 4.3% per year.
- Shaftesbury Capital PLC became profitable and has continued to grow earnings by an average of -27% per year over the past 5 years.
- The company’s short-term assets (£177.9M) exceed its short-term liabilities (£43.2M).
- Shaftesbury Capital PLC’s net debt-to-equity ratio of 32.5% is considered satisfactory.
Bad
- Shaftesbury Capital PLC is considered expensive based on its Price-To-Earnings Ratio of 18.2x, compared to the peer average of 6.1x.
- The company’s current share price of R25.15 is trading above the analyst’s fair value estimate of R2.25.
- While Shaftesbury Capital PLC’s revenue is forecast to grow at a healthy rate of 8.2% per year, it is expected to grow slower than 20% yearly.
- The company’s Return on Equity is forecast to be low in 3 years time, at 1.4%.
- Shaftesbury Capital PLC has a large one-off gain of £87.2M, which has impacted its financial results over the last 12 months up to 30 September 2025.
- The company became profitable within the last year, making it difficult to compare its earnings growth rate to its 5-year average or the industry (0%).
- Shaftesbury Capital PLC’s Return on Equity of 4.8% is considered low.
- The company’s short-term assets (£177.9M) do not fully cover its long-term liabilities (£953.5M).
- Shaftesbury Capital PLC’s debt-to-equity ratio has increased from 35.8% to 38.8% over the past 5 years.
- The company’s debt is not well covered by operating cash flow, with a coverage rate of only 3.5%.
- Shaftesbury Capital PLC’s interest payments on its debt are not well covered by EBIT, with a coverage rate of only 2.1x.
- The company is not currently paying a notable dividend for the South African market.
Shaftesbury Capital PLC Shares Growth Driver
- The portfolio owned by Shaftesbury Capital PLC spans over 16 acres and includes 611 establishments such as restaurants, cafes, pubs, and shops. The total area covered by these properties is 1.1 million sq. ft.
- Shaftesbury Capital PLC’s portfolio includes 0.4 million sq. ft. of offices and 624 apartments.
- Shaftesbury Capital PLC’s business model focuses on creating value for its shareholders through acquiring, managing, and enhancing high-quality properties. In addition, the company invests in upgrades, renovations, and redevelopments to increase the value and appeal of its properties to tenants and customers.
- Shaftesbury Capital PLC also has a 50% interest in the Longmartin joint venture. This venture holds a long leasehold interest in St Martin’s Courtyard in Covent Garden, covering an area of 1.9 acres.
- Shaftesbury Capital PLC’s properties are in some of the most desirable areas of London’s West End, with high footfall and strong demand. This can help ensure a consistent rental income stream and potential capital appreciation.
- The company’s portfolio includes a range of properties, including retail, leisure, and residential properties and office space. This diversification can help spread risk and provide a buffer against market fluctuations.
- Shaftesbury Capital PLC has a long and successful track record in the West End property market, with a history of delivering value to its shareholders.
- The company’s management team has significant experience in the real estate sector and a strong track record of delivering results.
- Shaftesbury Capital PLC has a significant presence in the West End property market, which is expected to continue to grow over the long term. The company also has opportunities for growth through potential acquisitions and further redevelopment of its existing properties.
- Shaftesbury Capital PLC has become profitable and has continued to grow earnings by an average of -27% per year over the past 5 years.
- The company’s revenue is expected to grow faster than the ZA market, with forecast growth of 8.2% per year compared to 4.3%.
Shaftesbury Capital PLC Investor Tip
- Shaftesbury Capital PLC is a real estate investment trust (REIT) that invests in and manages commercial and residential properties in London’s West End. Investors should have a good understanding of the company’s business model and how it generates revenue.
- Shaftesbury Capital PLC’s properties are in some of the most sought-after areas of London’s West End, with high footfall and strong demand. This can help to ensure a consistent stream of rental income.
- Investors should review Shaftesbury Capital PLC’s financial statements to understand the company’s revenue, expenses, and profitability. It is also important to consider the company’s debt levels and ability to generate cash flow.
- The success of any real estate investment trust is largely dependent on the management team. Shaftesbury Capital PLC has had significant changes to management after the merger with Capital & Counties Properties PLC.
- While Shaftesbury Capital PLC’s portfolio is focused on the West End, investors should look for diversification within the portfolio to spread risk. This can be achieved by investing in properties across different sectors and locations.
- As with any real estate investment, it is important to consider the broader economic and market conditions that could impact the performance of the investment, especially considering the landscape and factors in South Africa.
- Investors should stay up-to-date with news and developments that could impact Shaftesbury Capital PLC’s performance, especially with upcoming projects in South Africa and abroad.
Shaftesbury Capital PLC Major Share Holders and Governance
Shaftesbury Capital PLC’s major shareholders are a mix of institutional investors and individual shareholders.
As of their latest available annual report, the company’s largest shareholders were The Capital Group Companies, Inc. with a 12.97% stake, followed by BlackRock, Inc. with a 9.24% stake, and Columbia Threadneedle Investments with a 5.02% stake.
After the merger with Capital & Counties Properties PLC, The London-based real estate investment and development firm made some personnel adjustments.
Chris Ward has been promoted to chief operating officer, and Jonathan Nicholls has been named non-executive chair. The company has also named Richard Akers the senior independent director position.
Furthermore, the previous chair, Henry Staunton, resigned immediately, prompting these appointments.
Sector
Real Estate
Industry
Real Estate Investment Trust
Sub-Industry
REIT
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Shaftesbury Capital PLC FAQ
Is Shaftesbury Capital PLC listed on JSE?
Yes, Shaftesbury Capital PLC is listed on the JSE under the “SHC.”
What is the share price of Shaftesbury Capital PLC?
The current share price of SHC shares is R25.15 (2023/03/21).
Where can I find out how to buy Shaftesbury Capital PLC shares?
You can buy Shaftesbury Capital PLC shares through an FSCA-regulated broker in South Africa. Alternatively, you can trade CFDs on shares with popular brokers in South Africa, including AvaTrade, Exness, HFM, Pepperstone, and many more.
What is Shaftesbury Capital PLC?
Shaftesbury Capital is a real estate investment trust (REIT) that invests in and manages commercial and residential properties in London’s West End.
What kind of properties does Shaftesbury Capital own?
Shaftesbury Capital owns a diverse portfolio of properties, including retail, leisure, residential properties, and office space.
How does Shaftesbury Capital prioritize sustainability?
Shaftesbury Capital strongly emphasizes sustainability and corporate responsibility, with a commitment to reducing its environmental impact and supporting the communities in which it operates. The board’s sustainability committee oversees the company’s sustainability strategy.
Who are the major shareholders of Shaftesbury Capital?
The company’s major shareholders are a mix of institutional investors and individual shareholders, including The Capital Group Companies, BlackRock, and Columbia Threadneedle Investments.
What makes Shaftesbury Capital a viable investment?
Shaftesbury Capital’s prime location properties, diverse portfolio, experienced management team, and focus on sustainability and creating value make it a viable investment option for those looking to invest in the real estate sector.