- London West End property developer Shaftesbury has announced the death of founder and former chairman Peter Levy following a short illness.

Levy and members of his family founded the company in 1986, with an initial capital of £10 million and it was floated in October 1987.

He chaired the board until he retired in September 2004.

Chief executive Brian Bickell said: 'Shaftesbury's reputation, culture and values owe much to Peter's foresight and commitment in the formative years of the business. He will be greatly missed not only by his family but all those who were fortunate to know him and work alongside him.'

At 1:07pm: [LON:SHB] Shaftesbury PLC share price was 0p at 578.5p

Story provided by