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Derwent rent collection nears pre-pandemic levels

Derwent has collected almost all of its September office rents, but some retail and hospitality tenants are still outstanding.

The £5.4bn central London landlord said that 96% of its £38.4m office rents had been collected, with 2% due later in the year and just 2% outstanding.

However just 64% of its £2.3m retail and hospitality rents had been collected, with deals arranged for another fifth of tenants. A total of 15% was considered to be outstanding.

The overall position, with 94% of rents collected, is a marked improvement on June’s rent collection, with just 89% collected within a month.

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