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Landsec’s occupiers pay 62% of September rent

Landsec has collected £68.2m (62%) of the £110m of rent it was owed in September, compared to 95% for the same quarter last year.

It has received £56m (82%) of the £68m due from its offices portfolio, £10m (33%) of the £30m expected from its retailers and £2m (17%) of the £12m due from its specialist tenants.

The rent outstanding includes £9m which has been withheld subject to paperwork for already agreed concessions, Landsec reported in an update.

The REIT added that rent collection for the March and June quarters was now at 84% and 81% respectively, taking into account the £14m of support provided to its tenants from an £80m fund established in March.

 

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