Shaftesbury has received 45% of rent owed for the quarter ending December.
The central London landlord collected £12.2m of £27m owed for the quarter, with 20% left to receive after waiving a further 35%.
So far, it has received 36% (£3.5m) of a total £9.8m in January rents, with 48% waived. Another 16% is outstanding.
From October, the REIT has offered its occupiers the option to move permanently to monthly rent and service charge payments.
EPRA vacancy stood at 10.8% of estimated rental value, declining from 10.2% at the end of September last year. Of this vacancy, 2.8% was under offer. Shaftesbury said the net vacancy increase was “largely due to scheme completions”.
The REIT said it had £358.2m of available liquidity. Interest cover covenant waivers have been extended to January 2022, relating to a £120m loan that Longmartin, its joint venture with the Mercers’ Company, has.
Brian Bickell, chief executive, said: “The relaxation of pandemic restrictions will herald the revival of the West End’s economy in the months ahead, with a gradual return of local and domestic footfall and the reopening of hospitality businesses, shops and its world-renowned cultural and leisure attractions.
“Our strategy of supporting the survival and reopening of our existing hospitality and retail businesses is aimed at ensuring our locations will be animated, interesting and welcoming for returning customers.”
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