Landsec collects 85% of rent in September

Landsec

Landsec has revealed it has collected 85 per cent of the rent owed for the September quarter day.

As of October 12, collection day 10, 85 per cent of the net rent due to be paid to the institutional landlord on September 29 had been paid – compared with 81 per cent for the June quarter date.

Of the £13 million of rent outstanding, Landsec said £5 million relates to customers who have withheld payment pending documentation of agreed concessions.

READ MORE: Landsec sells more retail parks as it focuses on London

“We are encouraged by the positive momentum we’re seeing as the country gets used to new ways of working and living following the significant disruption caused by the pandemic,” a Landsec spokesperson said.

“The office is back and again proving how central it is to fostering creativity, collaboration and company culture.

“We’re also seeing momentum among our retail and leisure partners. Against this backdrop we will maintain the approach we have taken throughout the pandemic – seeking to work with all of our partners to support their businesses and their future success.”

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