The Group has now collected 83% of its total December Quarter Day rent and 87% of its office rent. Office rent represents c.91% of the Group’s total rental income. These collection rates are higher than the June and September 2020 quarters at an equivalent time. Rent has continued to be received in relation to earlier quarters, with September rent collected now 92% compared with 80% when first announced on 13 October 2020, plus an additional 5% still to be received from agreed payment plans.
December Quarter Day
- To date the Group has received 87% of office rents. This collection rate is higher than the equivalent figures released for the September and June quarters. A further 3% is due later within the first quarter with an additional 6% under agreed plans payable later in 2021
- We have now received 83% of the total rent, with a further 3% now expected later in the first quarter and another 5% later in 2021
- Rent-free periods have been granted on 1% of total rents, in the retail and hospitality sectors
- December quarter receipts include rent deposits of £88k
- 88% of service charges for the quarter have been received so far
September and June Quarters updated
Since we reported on 13 October 2020, rents agreed to be paid later within the September quarter have continued to be received. Consequently, we have now collected 92% of the September quarter rents, with another 5% subject to agreed payment plans. For the June quarter, we have now received 87% of rents with another 7% subject to payment plans.