LondonMetric Property PLC Rent collection update
RNS Number : 8064V
LondonMetric Property PLC
19 April 2021
19 April 2021
LONDONMETRIC PROPERTY PLC
Rent collection update
LondonMetric Property Plc ("Company") announces an update on
March 2021 rent collection.
The Company reports that 98% of the March quarterly and monthly
rents due have been collected, with a further 0.8% expected
imminently. Rent collection is high across all sectors with
distribution at 99%, long income at 98%, offices at 99% and retail
parks at 95%.
Outstanding rent is just GBP0.2 million with half in active
discussions and the balance subject to companies in administration;
mostly relating to a property where we are obtaining vacant
possession for a new letting to Lidl.
GBP0.8 million of rent is due in April and also in May under
agreed monthly rental concessions. Monthly payments now account for
15% of the total rent roll, compared with 18% as at September
In respect of the full year to March 2021, a total of GBP114.1
million rent has been demanded, of which 98.1% has been collected
or is being collected, 1.1% has been subject to asset management
initiatives, 0.4% was forgiven and 0.4% remains unpaid.
There is currently GBP1.5 million of rent subject to deferred
payments arrangements. This is being collected over the next 12
months. To date, all deferred payments have been made in full.
For further information, please contact:
LondonMetric Property Plc
Andrew Jones / Martin McGann / Gareth Price
Tel: +44 (0) 20 7484 9000
Dido Laurimore / Richard Gotla / Andrew Davis
Tel: +44 (0) 20 3727 1000
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(END) Dow Jones Newswires
April 19, 2021 02:00 ET (06:00 GMT)