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 £0.2 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.

£0.8 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 2020.

In respect of the full year to March 2021, a total of £114.1 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 £1.5 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: [phone]

FTI Consulting

Dido Laurimore / Richard Gotla / Andrew Davis

Tel: [phone]

[e-mail]  

 

END

 

 

MSCQVLFFFZLEBBE