LondonMetric Property PLC Rent collection update (7086B)
October 12 2020 - 1:00AM
UK Regulatory
TIDMLMP
RNS Number : 7086B
LondonMetric Property PLC
12 October 2020
12 October 2020
LONDONMETRIC PROPERTY PLC
Rent collection update
LondonMetric Property ("LondonMetric" or "Company") announces an
update on rent collection.
In respect of rental payments due up to 1 October 2020, the
Company reports that 94% has been collected, a further 3% is
expected to be received imminently, 2% is currently being deferred
under previously agreed payment plans and less than 1% is
outstanding.
100% of our distribution rent due has been or is being
collected, with long income at 92%, offices at 97% and retail parks
at 83%.
No further concessions or deferrals were granted in the period
and obligations under previous agreements are being honoured. Rent
subject to CVAs represents less than 0.1%.
Rent forgiven from the previous two quarters totals GBP0.26
million and a further GBP0.35 million remains unpaid, largely
relating to a property where we are securing vacant possession for
a new letting to Lidl.
Monthly rental concessions represent 5% of the rent roll with a
further 13% of rent paid monthly in line with contractual
obligations. We are witnessing an increasing trend of occupiers
shifting away from monthly payment concessions back to paying
quarterly under the terms of their lease.
For further information, please contact:
LondonMetric Property Plc
Andrew Jones / Martin McGann / Gareth Price
Tel: +44 (0) 20 7484 9000
FTI Consulting
Dido Laurimore / Richard Gotla
Tel: +44 (0) 20 3727 1000
londonmetric@fticonsulting.com
About LondonMetric Property Plc
LondonMetric is a FTSE 250 REIT that owns one of the UK's
leading listed logistics platforms alongside a diversified long
income portfolio. It owns and manages desirable real estate that
meets occupiers' demands, delivers reliable, repetitive and growing
income-led returns and outperforms over the long term. LondonMetric
has 16 million sq ft under management. Further information is
available at www.londonmetric.com
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END
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