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Cadogan has reported a 16.6% increase in operating profit, supported by sustained demand across its portfolio and progress on environmental and community goals.
Total income rose 11.8% to £241.4m in 2024, up from £216m the previous year. The value of its property portfolio grew 1.3% to £5.7bn.
The estate also revealed it invested £211m in acquisitions and development to support its long-term position as a “prime location to live, work and visit”.
Cadogan chief executive Hugh Seaborn said: “Against an unpredictable geopolitical backdrop and muted domestic economy, our strong performance is founded on the momentum built over many years through strategic leasing activity, development schemes, public realm projects and consistently balancing short-term profit against long-term neighbourhood prosperity.
“Our priority remains building the resilience and appeal of Chelsea as a destination – from a 70% increase in the number of food and drink locations since 2020, to strengthening Sloane Street’s international reputation and culture-led placemaking that emphasises the area’s distinctive character.”
He added: “With added threats from tariffs, cooling of the global luxury market and the continued loss of tax-free shopping in the UK, projects such as the Sloane Street transformation are vital to create stand-out appeal and encourage consumer dwell time and increased spend. It has already seen a significant impact on footfall since its completion earlier this year and clearly demonstrates the growing importance of physical retail for luxury brands as part of a beautifully curated, compelling environment.
“We have invested almost £500m into developments, purchases and public realm over the last two years. As the impact of online shopping has matured, successful retailers recognise that the physical consumer experience is paramount – we are aware that our role is progressively that of ‘stage manager’, curating an enticing environment that allows business and community to thrive.”
Cadogan manages an extensive retail and leisure portfolio in Chelsea, spanning flagship luxury boutiques, lifestyle streets, and creative hub developments.
