Shaftesbury feasts on Night Tube’s fillip

Night Tube boost: London landlord Shaftesbury expects visitors to the West End will stay out later thanks to better transport

Nigel Howard

Joanna Hodgson29 November 2016

Restaurants in Chinatown and Carnaby Street are set for a boost in business as more Londoners stay out later thanks to the Night Tube, the boss of West End landlord Shaftesbury said on Tuesday.

Brian Bickell said: “Better transport has given restaurants an opportunity to get another turn on the tables later on. People will no longer be rushing home after the theatre.”

Eateries licking their lips at the prospect of more diners will include the recently opened barbecue joint Temper, run by former Smokehouse chef Neil Rankin, which is housed in a Shaftesbury property.

Shaftesbury’s estate, which comprises 584 shops, restaurants and pubs, is geographically positioned to benefit when the 24-hour Piccadilly line arrives next month. It is already reaping rewards from the Central and Northern Night Tubes.

The property developer saw rental profits rise 6.7% to £84.1 million, but pre-tax profit shrank to £99.1 million from £467.3 million, due to the much smaller rises in property values than in previous years.

The shares dropped 6p to 924p.