A merger between two of the most powerful landlords in Soho and the West End will define the futures of countless restaurants
. This isn’t really about whether these restaurants, old or new, are worse or better; it’s about the extent to which landlords get to define who has a hope of opening, thriving, and surviving.
Shaftesbury and Capco, soon to be Shaftesbury Capital, say that “by combining both companies’ strengths, cultures and values as well as their proven operating and investment models, the combined group’s management team will take a ‘best of both’ approach to operations with the aim of delivering long-term economic and social value for all stakeholders.”
There is no doubt that cold, hard cash will be made. But the impact on central London restaurant culture will be slower and less tangible, revealed in restaurants that go unrealised as much as those that move in to vacant units. Central London’s restaurant culture now has a price. What the cost will be remains unknown.Check your inbox for a welcome email.
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