The London landlord Shaftesbury foresees a strong demand for its West End properties, after the value of its £1.2 billion portfolio reported a rise of about 7 per cent over six months ended September 30.

However, the figure of £1.2 billion portfolio at the end of September 30 was down by 3.8 per cent over the year after values dropped earlier in the year.

Shaftesbury expects that strong demand for its West End retail, restaurants and apartments would boost rents next year.

Speaking on the topic, company’s CEO Jonathan Lane said, “Our cash flow is incredibly strong with healthy demand and growing rents.”

Earlier in May, Shaftesbury lifted £150 million via a rights issue in order to buy cut-price property. It also showed confidence regarding its ability to acquire more assets.

Shaftesbury made acquisitions worth £29.8 million during the year ended September 2009. It possesses a further £213.8 million of unused bank facilities.