Aberdeen Standard European Logistics Income has collected two-thirds of the rent due from tenants of its industrial properties on the continent, and said that many are seeing a boost to business during the coronavirus pandemic.
Evert Castelein, a fund manager at Aberdeen Standard Investments, said in a stock market update: “While a number [35] of our tenants are experiencing short-term operational and financial challenges, a good proportion of our tenants are experiencing greatly increased levels of trading as demand for home delivery and essential logistics services in general have risen sharply.
“In addition, three of our top four tenants by income operate in the food and pharmaceutical logistics sectors and they are experiencing unprecedented levels of trading volume.”
Castelein added that country lockdowns and reduced social mobility for the foreseeable future would “inevitably lead to an accelerated take up of e-commerce in European countries”, and that this in turn would lead to a rise in demand for warehouse capacity.
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