Retailers, pubs and restaurants are expected to get a World Cup lift in November.
British commercial landlord Shaftesbury Plc on Tuesday saw a strong recovery in consumer spending at its properties in London's West End and sustained demand, despite a worsening cost-of-living crisis.
UK landlords exposed to fashion retailers and hospitality firms have recovered from their pandemic battering and are primed to benefit from a Christmas season free of lockdowns, although inflation has curbed non-essential spending.
Pubs and restaurants are also expected to attract more crowds gathering to watch the soccer World Cup in Qatar.
Shaftesbury, which this year announced a merger with Capital & Counties Properties to create a 5 billion pound ($6 billion) estate, said its retail and hospitality tenants were reporting average monthly sales 6% ahead of pre-pandemic levels.
The property firm, which owns around 600 buildings in the heart of London's West End, said prospects for the capital and its West End district remained bright.
More than a third of the FTSE 250 firm's property portfolio is occupied by hospitality and leisure firms, while about 27% is retail.
It said a per-share measure that reflects the value of its buildings - EPRA Net Tangible Assets - rose to 6.41 pence from 6.19 pence a year earlier.
(Reporting by Aby Jose Koilparambil in Bengaluru; Editing by Saumyadeb Chakrabarty)
UK Landlord Shaftesbury Sees Strong Recovery In Consumer Spending