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The value of Covent Garden has risen by about £75 million over the past six months as shoppers returned to the London entertainment destination.
The recovery in footfall as lockdown restrictions have eased has led to more shops, bars and restaurants paying their rent on time. Capital & Counties, the FTSE 250 landlord that owns Covent Garden, has received 86 per cent of the rent due for this quarter.
That is more than double the 42 per cent it had collected by this time last year, when most of its tenants had been forced to shut their doors again. In addition, Capital & Counties said that it had seen “positive leasing activity” to new tenants in recent months.
The group’s valuer had been expecting
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