Yew Grove REIT has collected nearly all (99.95%) rent due for Q4 despite “continued challenging market conditions”.
The business has collected 97% of rent for Q2 and 98% of rent for Q3, with rent holidays agreed temporarily for non-food retail businesses, which accounts for 1% of the rent roll.
One tenant who was granted a rent deferral because it was affected by the suspension of non-Covid-related hospital treatments is now paying rent and the deferral.
Yew Grove chief executive Jonathan Laredo said: “We are pleased that our tenants’ businesses have recovered sufficiently that we could record increased collections for the fourth quarter despite the continued challenging market conditions.
“We continue to talk to each of our building occupiers to ensure the ongoing management and improvement of their buildings. We are also working actively on rent reviews and new leases and will update the market when we make material progress.”
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