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Real estate company Land Securities said it had collected 67% of March-quarter rent, but expected collection to improve as about 10% was withheld to finalise agreed concessions.
Assuming all agreed concessions were completed and the £10 million of withheld rent was received, the rent collection rate for the quarter would increase from 67% to approximately 77%, the company said.
The company also expected further rent concessions as its customers prepare for the reopening. In early April 2020, a customer support fund of £80 million was set up for occupiers, with £39m of rent concessions to date allocated to customers.,the company said.
Footfall and sales performance for the year to 31 March 2021 would be provided in the annual results announcement which would be published on 18 May 2021.
At 8:36am: (LON:LAND) Land Securities Group PLC share price was 0p at 676.5p