London landlord Shaftesbury expects spending boom as Elizabeth line opens

Platinum jubilee decorations in London’s Carnaby Street, where Shaftesbury owns a string of properties. Photograph: Neil Hall/EPA

The central London landlord Shaftesbury anticipates a rise in visitors and spending in the West End now that the Elizabeth line has finally opened, as it hailed a swing back to profit after the value of its 16-acre property portfolio was boosted by rising rents.

The central section of the new line originally known as Crossrail opened on Tuesday morning, running between Paddington in the west through central London to the new station at Abbey Wood in the east. A full service incorporating the outer legs out to Shenfield in the east and to Reading and Heathrow in the west is expected by next spring.