Shaftesbury Capital PLC (JSE: SHC) is the real estate investment trust (REIT) born from the merger of Capital & Counties Properties PLC (Capco) and Shaftesbury PLC.
Shaftesbury Capital is listed on the Johannesburg Stock Exchange (JSE), and is renowned for its prime central London property portfolio, particularly its significant holdings in Covent Garden, Carnaby Street, and other vibrant West End locations. It also has shares listed on the London Stock Exchange, with that entity forming part of the FTSE 250 Index.
The graph below shows the latest share price for Shaftesbury Capital PLC (JSE: SHC), is grappling with a mix of strategic achievements, market headwinds, and evolving investor sentiment.
The merger path hasn’t been without its challenges. The share price has been marked by considerable share price volatility, with the stock hitting new 12-month lows. This downward pressure reflects a confluence of factors, including broader macroeconomic concerns, investor uncertainty surrounding the long-term impact of the merger, and specific financial performance metrics released by the company. The reported decline in profit for the full year 2024, despite a committed dividend payout, has undoubtedly contributed to the cautious sentiment surrounding the stock.
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Recent Developments
A key strategic move that has garnered significant attention is the establishment of a long-term partnership with Norges Bank Investment Management (NBIM), the manager of the Norwegian Government Pension Fund Global. This partnership, formalized on April 1, 2025, involved the sale of a 25% stake in Shaftesbury Capital’s Covent Garden estate to NBIM for £570 million. This transaction values the entire Covent Garden estate at £2.7 billion, as of December 31, 2024, and underscores the enduring appeal and inherent value of this iconic London destination.
While Shaftesbury Capital retains a 75% ownership stake and management control, the partnership with NBIM provides a substantial injection of capital and validates the company’s strategic vision for Covent Garden. The collaboration is expected to foster further investment and enhancement of the estate, solidifying its position as a premier global destination.
Despite the positive implications of the NBIM partnership, the decline in Shaftesbury Capital’s share price to new 12-month lows in early 2025 raises concerns about investor confidence. On March 12, 2025, the stock traded as low as GBX 113.30, a significant drop from its previous close. This followed an earlier low of GBX 116.70 on January 16, 2025.
Market analysts attribute this decline to a combination of factors, including concerns about the company’s financial performance, the broader economic outlook, and potential integration challenges arising from the merger. The real estate sector, in general, has faced headwinds due to rising interest rates and concerns about property valuations, further contributing to the negative sentiment surrounding Shaftesbury Capital.
The company’s financial performance for 2024, released on February 27, 2025, revealed a decrease in profit compared to the previous year. While the company announced a final dividend of 1.8 pence per share, bringing the total dividend for the year to 3.15 pence per share, this wasn’t enough to assuage investor concerns about the underlying profitability of the business. The dividend payout, while demonstrating a commitment to returning value to shareholders, may also be interpreted as a signal that the company is prioritizing shareholder returns over reinvestment in growth initiatives.
Who is Shaftesbury Capital PLC ?
Shaftesbury Capital PLC is one of the largest listed property companies in central London with Covent Garden and Earls Court estates as key assets.
Shaftesbury Capital traces its roots from two prominent REITs—Shaftesbury PLC (est. 1986) and Capco (est. 1933). Which are both deeply embedded in London’s West End. Merging in 2023, they formed a powerhouse controlling key West End districts, with strong financial momentum and strategic asset monetization moves like the Covent Garden sale.
Shaftesbury Capital PLC’s equity stocks are for sale online on the Johannesburg Stock Exchange (JSE) under the stock symbol SHC.
The current CEO of Shaftesbury Capital PLC Properties Plc is Ian Hawksworth.
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Shaftesbury Capital PLC is listed on the Johannesburg and London Stock Exchanges.
Shaftesbury Capital PLC forms part of the Real Estate Investment Trust Industry and the Real Estate Sector of the Johannesburg Stock Exchange (JSE).
Shaftesbury Capital PLC Stock Chart – 5 Year
Shaftesbury Capital faces a complex landscape long-term. While the strategic partnership with NBIM and the acquisition of key properties demonstrate a commitment to growth, the share price volatility and financial performance concerns warrant careful consideration. Investors must weigh the potential risks and rewards before making investment decisions, taking into account both the prevailing market sentiment and the company’s underlying strengths. The future success of Shaftesbury Capital will depend on its ability to navigate the current challenges, execute its strategic vision, and deliver sustained value to its shareholders. The next few quarters will be critical in determining whether the company can capitalize on its prime assets and overcome the current market headwinds.
Company Essentials
Shaftesbury Capital PLC has its headquarters at Regal House, 14 James Street, London, WC2E 8BU, UK. The market value of Shaftesbury Capital PLC ’s property portfolio as of 31 December 2024 was £5 billion. Shaftesbury Capital PLC has more than 100 employees and currently serves clients in the United Kingdom.
At its core, Shaftesbury Capital operates by curating and managing distinctive urban environments that attract a diverse range of occupiers, including retail, dining, leisure, and residential tenants. The company’s success hinges on its ability to create destinations that resonate with both Londoners and tourists, driving footfall and, consequently, rental income. The merger that created Shaftesbury Capital was predicated on the synergy between Capco’s large-scale, mixed-use estates and Shaftesbury’s concentrated holdings in thriving areas. The combined entity was envisioned as a powerhouse, capable of leveraging its scale and expertise to deliver superior returns in a competitive real estate market.
How to buy Shaftesbury Capital Shares – Step by Step
The stock market is one of the most attractive financial markets that sees millions of retail investors and traders’ participating daily. To buy, sell or trade Shaftesbury Capital Plc stocks on the Johannesburg Stock Exchange (JSE), traders and investors can follow a few simple steps:
- Find the share that you want to buy, in this case, “SHC”.
- Select a forex broker that offers access to the Johannesburg Stock Exchange (JSE).
- Review the broker’s trading conditions, fees, deposit and withdrawal methods, trading platform, customer support, regulation, and other components to ensure that they are aligned with your trading plan.
- Open a live trading account with the broker by completing the online application form and providing the necessary documentation to verify the trading account.
- You are now ready to make your first share purchase through the broker.
- You can further start to build and diversify your portfolio by buying more shares.
YOUR CAPITAL IS AT RISK
🟩 The Bull Case
- Prime Portfolio: Shaftesbury Capital’s portfolio comprises some of the most desirable real estate in central London, ensuring sustained demand and rental income.
- Strategic Partnership: The partnership with NBIM validates the value of the Covent Garden estate and provides access to significant capital for future development.
- Dividend Commitment: The company’s commitment to paying dividends demonstrates a focus on returning value to shareholders.
- Insider Confidence: Director share purchases signal confidence in the company’s future prospects.
🟥 The Bear Case
- Share Price Decline: The decline in share price reflects investor concerns about financial performance and market conditions.
- Profit Decline: The reported decrease in profit for 2024 raises questions about the company’s underlying profitability.
- Economic Headwinds: Rising interest rates and concerns about property valuations pose challenges to the real estate sector.
- Integration Risks: Challenges associated with integrating the operations of Capco and Shaftesbury could impact performance.
