fbpx
Register Log-in Investor Type

News

Town Centre Securities has collected 83% of rent since March 2020

Town Centre Securities provides covid-19 update

Town Centre Securities, which owns retail, office and car park assets in the UK, has collected 83% of rent since March last year.

This includes a 76% collection rate for the first quarter of 2021. In all, it has received £20.4m of the £24.6m it has billed since March last year (83%). This rises to 87% when agreed deferments are included.

For the current quarter, it has received £3.9m of the £5.2m billed (76%) and has agreed to defer a further £0.6m (10%).

Of the outstanding £0.7m, £0.05m has been waived, while £0.1m was unexpectedly unpaid by Whitbread plc, owner of a Premier Inn hotel in the group’s portfolio, which only paid half of their rent due for the quarter without any agreement in place.

Overall, since March 2020 £3.1m of rent remains unpaid – £1.2m of which has been waived in return for lease extensions and £1.9m is outstanding.

TOWN : Town Centre Securities has collected 83% of rent since March 2020

previous story | next story

Leave a Reply

Your email address will not be published. Required fields are marked *

Please review our cookie, privacy & data protection and terms and conditions policies and, if you accept, please select your place of residence and whether you are a private or professional investor.

You live in…

You are a…