// Capital & Regional receives only half of the rent due from tenants in its shopping centres
// The group is actively working with retailers to help them amid Covid-19 pandemic
Capital & Regional has received only half of the rent due from tenants in its shopping centres as the coronavirus pandemic continues to affect the retail sector.
The typical collection rate for the quarter by this point would be at least 80 per cent.
The retail property giant said its seven shopping centres in the UK were open for essential services during the “unprecedented” lockdown.
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“We are in active discussions with all our retailer customers on the outstanding rents, appreciating these are challenging times,” Capital & Regional stated.
“With our larger chain store and multiple-unit retailers, we are in dialogue to understand and assess the impact that the relief measures announced by the government could potentially have on their businesses and anticipate further collections as we work through these discussions.
“We are likewise engaging with our smaller independent retailers as to how we are best able to offer support, sensitive particularly to the impact that the current situation is having on them.”
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