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Bond information

General Information

Shaftesbury Carnaby PLC has outstanding, £285,000,000 Guaranteed First Mortgage Bonds (“the bonds”) due 2031, guaranteed by Shaftesbury PLC.

The bonds were issued on 7 October 2016 and are listed on the regulated market of the London Stock Exchange.

Full details of the bonds are available in the Prospectus available for download from this page.

Information on the mortgaged properties

At 30 September 2017, the aggregate value of the Specifically Mortgaged Premises was £570,525,000. The properties were valued by Cushman & Wakefield. The Asset Cover Ratio was 2.00:1.

The Net Annual Income as at 30 September 2017, as agreed by Ernst & Young LLP, the Group’s auditor, was £15,554,824. The Interest Cover Ratio was 2.19:1.

There were 208 tenants occupying the Specifically Mortgaged Premises.

The rent roll by tenant use is shown below:


The top ten tenants contribute 30.6% to the Specifically Mortgaged Premises income (by gross annual income). They are as follows:

1

Liberty Retail Limited

4.9%

2

Boots UK Limited

4.2%

3

Office Holdings Limited

3.5%

4

Fashion Box UK Limited t/a Replay

3.0%

5

True Religion Brand Jeans UK Limited

2.7%

6

The Kooples UK Limited

2.6%

7

StudioCanal Limited

2.5%

8

Adidas (U.K.) Limited

2.4%

9

Pret a Manger (Europe) Ltd

2.4%

10

Scotch & Soda Retail UK Limited

2.4%

 

The following properties are secured against the bonds:

31 to 47 (odd numbers) and 46 to 48 Beak Street

46, 57 (and Stirling Court), 61 to 69 (including Jaeger House) and 74 to 76 Broadwick Street

1 to 16 and 21 to 30 Carnaby Street (including 28A)

Marshall House, 47 to 50 & 52 to 53 Marshall Street

Flat 15, Marshall House, Marshall Street

5 to 21 (odd numbers) and 26 to 32 (even numbers) Foubert's Place

31 & 32 Kingly Street (including Lasenby House)

27 & 28 Great Marlborough Street

9 to 14 Little Marlborough Street

1 Little Marlborough Street

2 to 12 (even numbers) Ganton Street

41, 48 and 49 Lexington Street

3, 5 & 6 Lowndes Court

1 & 2 and 33 to 37 Marshall Street

1 to 4 Marlborough Court

1 to 17 Newburgh Street (including 12A)

1 & 2 Silver Place

20 Beak Street & 6 Upper John Street

 

Trustee

Prudential Trustee Company Limited
Laurence Pountney Hill
London
EC4R 0HH

 

Principal Paying Agent

Elavon Financial Services DAC
Fifth Floor
125 Old Broad Street
London
EC2N 1AR
United Kingdom

General Information

Shaftesbury Chinatown PLC has outstanding, £290,000,000 Guaranteed First Mortgage Bonds (“the bonds”) due 2027, guaranteed by Shaftesbury PLC.

The bonds were issued on 7 September 2017 and are listed on the regulated market of the London Stock Exchange.

Full details of the bonds are available in the Prospectus available for download from this page.

Information on the mortgaged properties

At 30 September 2017, the aggregate value of the Specifically Mortgaged Premises was £532,330,000. The properties were valued by Cushman & Wakefield. The Asset Cover Ratio was 1.84:1.

The Net Annual Income as at 30 September 2017, as agreed by Ernst & Young LLP, the Group’s auditor, was £14,315,158. The Interest Cover Ratio was 2.10:1.

There were 193 tenants occupying the Specifically Mortgaged Premises.

The rent roll by tenant use is shown below:

The top ten tenants contribute 28.5% to the Specifically Mortgaged Premises income (by gross annual income). They are as follows:

1

Rentwell Developments Limited

3.6%

2

Reigo (UK) Limited

3.3%

3

New Fortune Catering Limited

3.3%

4

New Loon Moon Limited

3.2%

5

Everwell (London) Limited

2.9%

6

Family Leisure Gerrard Limited

2.8%

7

Crispy Duck Chinese Restaurants Limited

2.5%

8

Allied Promotions Limited

2.4%

9

Rasa Investments Limited

2.3%

10

A&D Chinatown Limited

2.2%

The following properties are secured against the bonds:

45, 45b, 47 & 49 and Crediton Mansions, 47a Charing Cross Road, London

3 Dansey Place

3 and 4 Dansey Place

6 Dansey Place and 21 and 22 Gerrard Street

7 Dansey Place and 34-36 Wardour Street

1 Gerrard Place

2 Gerrard Place

3 Gerrard Street

4 Gerrard Street

5 Gerrard Street

6 Gerrard Street

7 Gerrard Street

8 Gerrard Street

9 Gerrard Street (also containing 8 Horse & Dolphin Yard)

10 Gerrard Street & 4 Horse & Dolphin Yard

11 Gerrard Street

13 Gerrard Street

14 Gerrard St & 13 Macclesfield St

15A Gerrard St (also containing 2 Macclesfield St)

15 Gerrard Street

16 Gerrard Street and 2 Dansey Place

17 Gerrard Street (also containing 3 Dansey Place)

18 Gerrard Street

19 Gerrard Street

20 Gerrard Street and 5 Dansey Place

21 and 22 Gerrard Street and 6 Dansey Place

23 Gerrard Street

36 and 39 Gerrard Street

37-38 Gerrard Street

King's Head Public House, 48 Gerrard Street

1, 2 and 3 Horse and Dolphin Yard

8 Horse & Dolphin Yard

14 Lisle Street

15 Lisle Street

18-20 Lisle Street

19 Lisle Street

20 Lisle Street

21 Lisle Street

26 - 27 Lisle Street

The White Bear Public House, 28-30 Lisle Street

7 Little Newport Street

8 Little Newport Street

9 Little Newport Street

12 and 13 Little Newport Street

15 Little Newport Street

2 Macclesfield Street

3 Macclesfield Street

4 Macclesfield Street

5 Macclesfield Street

12 Macclesfield Street

13 Macclesfield Street and 14 Gerrard Street (also containing 13a Macclesfield Street)

21 Newport Court

22 Newport Court

23 and 24 Newport Court

1 Newport Place

Parts Of The Basement, Ground And Mezzanine Floor Levels at the Newport Sandringham Development Being The Retail Development, 51 To 79 (odd) Charing Cross Road, 28 To 35 Newport Court and 10 To 18 (even) Newport Place

64 Shaftesbury Avenue

66 to 88 (even) Shaftesbury Avenue, encompassing:

66 Shaftesbury Avenue

68 Shaftesbury Avenue

70 Shaftesbury Avenue

72 Shaftesbury Avenue

74 Shaftesbury Avenue

76 Shaftesbury Avenue

78 Shaftesbury Avenue

80 Shaftesbury Avenue

90, 92, 96 and 98 Shaftesbury Avenue and Macclesfield Chambers

100-124 Shaftesbury Avenue (Basement, Ground, First and Second Floors) encompassing:

108 Shaftesbury Avenue

110 Shaftesbury Avenue

112 and 112A Shaftesbury Avenue

114 Shaftesbury Avenue

116 Shaftesbury Avenue

118-120 Shaftesbury Avenue

Flat 1, Exeter Mansions, 106 Shaftesbury Avenue

Flat 3, Exeter Mansions, 106 Shaftesbury Avenue

Flat 4, Exeter Mansions, 106 Shaftesbury Avenue

Flat 5, Exeter Mansions, 106 Shaftesbury Avenue

Flat 6, Exeter Mansions, 106 Shaftesbury Avenue

Flat 8, Exeter Mansions, 106 Shaftesbury Avenue, London

Basement Vault, 116 Shaftesbury Avenue

Flat 1, Egmont House, 116 Shaftesbury Avenue

Flat 2, Egmont House, 116 Shaftesbury Avenue

Flat 3, Egmont House, 116 Shaftesbury Avenue

Flat 4, Egmont House, 116 Shaftesbury Avenue

Flat 3, Nassau House, 122 Shaftesbury Avenue

32 Wardour Street (also containing 23 Gerrard Street)

 

Trustee

Prudential Trustee Company Limited
Laurence Pountney Hill
London
EC4R 0HH

 

Principal Paying Agent

Elavon Financial Services DAC
Fifth Floor
125 Old Broad Street
London EC2N 1AR
United Kingdom

Guaranteed First Mortgage Bonds