Shaftesbury Capital PLC, the West End of London-focused property group, said the area continues to recover in spite of economic headwinds.
The company, which merged with another West End stalwart CapCo earlier this year, said rents are up 6% in the five months of the year so far with 173 leases signed over the period.
Most of the new leases were residential, Shaftesbury added, with hospitality seeing 16, retail 28 and offices 30, adding up to £11.4mln of rent in total.
Sales by tenants in its areas, which include Covent Garden, Soho and Chinatown, are up by 13% while voids or empty space was 2.9% of the portfolio with a further 2.1% under offer.
Cutting costs by £7.5mln and boosting cash rents were two aims of the merger and Ian Hawksworth, chief executive, said he was pleased with the operational progress in the first 100 days since completion.
“Against a backdrop of macroeconomic uncertainty, demand for space in our West End locations continues to be strong across all uses.”