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London West End retail property investor Shaftesbury said vacancy rates had fallen and rental collection improved, amid a recovery in footfall following an easing of lockdowns.
In a trading update for the period between 1 April and 20 August, the company said its available-to-let vacancy rate had fallen to 4.6% at the end of July and 4.1% by 13 August.
That compared to a rate of 8.4% at the end of March.
As for rental collection, it stood at 49% for the three months to December 2020, with 78% of rent billed, and 40% for the three months through March 2021, with 77% of rent billed.
For the three months through June 2021, 51% of of contracted rent had been collected, with 73% billed, and for the month of July, 55% had been collected, with 62% billed.
Shaftesbury said it was confident that further collections would be made over the coming months.
'I'm pleased to report positive momentum in recent months, with footfall and trading recovering, an improving operating environment and significantly reduced vacancy across our villages,' chief executive Brian Bickell said.
'West End footfall has, to date, recovered to 50-60% of pre-pandemic levels, as Londoners, domestic day trippers and staycation visitors return in growing numbers.'
'We expect that early autumn will see a return of the West End's exceptionally large office-based working population, which has always been an important contributor to our local weekday economy.'
'The momentum of the last four months is providing a sound platform for the continuing revival of the West End in the important months ahead, leading up to Christmas and into the New Year, and the prospects for a return to pre-pandemic patterns of life and activity.'