LondonMetric has collected almost all of its March 2021 rent.
The firm has collected 98% of its March quarterly and monthly rent due, with a further 0.8% expected imminently.
The group said that rent collection was high across all sectors, with distribution at 99%, long income at 98%, offices at 99% and retail parks at 95%.
It has just £200,000 of rent outstanding and said that it was in “active discussions” over that rent. The balance is subject to companies in administration; mostly relating to a property where it is obtaining vacant possession for a new letting to discount supermarket Lidl.
Looking forward, LondonMetric said that £800,000 of rent was due in April and in May under agreed monthly rental concessions and that monthly payments now accounted for 15% of its total rent roll, down from 18% in September 2020.
For the full year to March 2021, a total of £114.1m has been demanded, of which 98.1% has been collected or is being collected, 1.1% has been subject to asset management initiatives, 0.4% was forgiven and 0.4% remains unpaid.
The firm said it had £1.5m of rent currently subject to deferred payments arrangements, which was being collected over the next 12 months.
To send feedback, e-mail samantha.mcclary@egi.co.uk or tweet @samanthamcclary or @estatesgazette
