UK retail mega-landlord Shaftesbury Capital has responded to speculation about its intentions in London Covent Garden confirming that it’s in talk on a link-up with an investment bank.

The property giant, which also owns vast tracts of London’s wider West End, said it “notes recent market speculation and confirms that it is in advanced discussions with Norges Bank Investment Management (NBIM) regarding a potential long-term partnership in relation to the company’s Covent Garden portfolio, which was independently valued at £2.7 billion as at 31 December 2024”.

If the deal goes ahead, it’s likely that NBIM would become a 25% shareholder in the Covent Garden portfolio, “acquiring the position in line with the December 2024 valuation”. But Shaftesbury Capital would retain “control and management of the portfolio”.

It said the transaction “would position the company strongly to pursue further long-term value creation and growth opportunities across its portfolio”.

At this stage there’s “no certainty that any transaction will be agreed” and further announcements “will be made in due course as appropriate”.

It’s a major development for the London stock exchange-listed business that has a market value based on its share price of £2.41 billion, lower than the value of one chunk of its property holdings.

The company was formed exactly two years ago as West End landlord Shaftesbury and Covent Garden landlord Capco merged.

There’s been a lot of activity around Topshop of late and following on from management changes and its website teasers, the retailer that’s now majority owned by the holding company of Bestseller’s owner has unveiled a tantalising campaign.

It’s partnering with London-based artist Russ Jones to create “We Missed You Too” — described as “an audacious fan-fuelled art installation and treasure hunt across London’s Soho”. 

The company said that Jones, “whose bold text-emblazoned mirror installations have taken the internet — and most recently, The Topshop-sponsored Brits after party — by storm”, has created 21 mirrors featuring comments from Topshop’s “army of loyal fans. With such an outpouring of love, cherished memories and dreams for the future from fans, there could only be one response from Topshop, ‘We Missed You Too’.” 

The company has gamified the installation, turning it into a treasure hunt to find a £1,000 voucher for Topshop.com and exclusive access when the site launches later this year. 

Moses Rashid, Topshop global director of marketing said “the love” the company has seen for Topshop and Topman on social media has been very strong, adding: “Supporting local talent, sharing the stage with creatives, and bringing London’s unique energy to our fans has always been part of Topshop’s heritage. This activation, featuring the hugely talented Russ Jones, is our way of giving back in a truly Topshop way. Our fans are at the heart of everything we do, and ‘We Love You Too’ is a perfect example of that.”

London’s King’s Road continue to grow in popularity as a retail destination for niche fashion brands, especially those testing the market.

The area’s major landlord, Sloane Stanley Estate, has announced London-based brand Minka Dink is opening its second pop-up in Chelsea, “demonstrating the strength of the landlord’s role in providing a sought-after location for brands to trial physical retail”. This has already included temporary locations for brands such as Chinti & Parker, Prochaine, KayaNuka, and Seraphina.
 
Minka Dink will open on the King’s Road for a three-week period with a 1,728 sq ft unit showcasing its womenswear collections including the Bibi Blouse, Lila Jeans and Evie Cardigan.

It will also present the first drop of its SS25 collection, available to shop in-store only, it noted. The new collection focuses on “transitional pieces that take you from season to season, mirroring the brand’s ethos of creating timeless, versatile clothing that boosts confidence while being both stylish and accessible”.

Minnie Royden, founder of Minka Dink, said: “King’s Road has always felt like the ultimate location for our pop-ups. Our customer loves shopping here and we absolutely love the area and the incredible surrounding brands. It always feels like the perfect fit.”

Hannah Grievson, Property director at Sloane Stanley, added: “Minka Dink achieved so much success during its first-ever pop-up with us here last year, and to host its second pop-up is a real testament to the opportunities we provide for independent brands to thrive.

“Entering physical retail can be a daunting experience, especially for brands that have built a strong following on social media, and our role is to make it that little bit easier, providing guidance and support at every level.”

Minka Dink also joins Pepites, the curated boutique combining European and international brands, that opened a King’s Road pop-up. Its new space delivers a range of names from Liv Bergen and Karma Koma to Diaperis and Riviera, stocking womenswear, accessories and jewellery.