A host of rent collection figures for the first quarter of 2021 have been announced by property companies and, once again, it is the logistics-focused companies leading the way. It is not that surprising given the well-documented rise in online retailing and the positive impact on demand for logistics space, but it does underline the strength of […]
Urban Logistics REIT has acquired a logistics site in the Wirral for £16.3m and announced rent collection for the first quarter of 2021 was 99%. The group has bought the 169,963 sq ft property in Bromborough at a net initial yield of 5.0% as it continues to deploy the proceeds of its recent fund raise. […]
Industrial and logistics giant SEGRO has revealed it has collected 98% of all rent billed for 2020, reflecting the strength of the sector. Broken down into UK and European portfolios, SEGRO has collected 97% of the £245m billed on its UK assets and 98% of the £172m billed in Europe. The group said it had […]
Central London office landlords Great Portland Estates and Helical have reported rent collection figures for the first quarter of 2021. Great Portland Estates The company has received 69% of rent due, which it said increases to 77% when the £2.1m of rent deposits it anticipates to utilise are included. As expected, its main issue has […]
CLS Holdings, which owns offices in the UK, France and Germany, has received 90% of rent for the first quarter of 2021. This compares with a rent collection in the same period last year (before the impact of COVID-19 was felt) of 91%. The group said the collection rate increases to 93% when taking into account tenants […]
LondonMetric Property has collected 98% of rent for the first quarter of 2021. The group, which has a large logistics portfolio as well as a long-income portfolio, said that of the £22.8m billed for the quarter and monthly for January, 98% has been received with a further 1% expected imminently. A sectoral split shows rent collection […]
Tritax Big Box REIT has reported a like-for-like increase in the value of its portfolio of around 8% in the six months to the end of December 2020. The group said the second half of 2020 saw a significant increase in the value of prime, larger scale, UK logistics real estate assets let to high calibre occupiers […]
Schroder European REIT has announced it collected 89% of rent for the final quarter of 2020. This was ahead of the previous two quarters collection rate, which stands at 87%. The company also announced its quarterly portfolio valuation, which increased by 1.4% on the September 2020 valuation to €276.1m. The valuation increase was driven by […]
Derwent London, the central London office developer and owner, has collected 83% of rent for the first quarter of 2021. The group said it has received 87% of the £40.9m office rent for the quarter, which is higher than the previous two quarters at an equivalent time. It has received just 26% of the £3m it […]
Land Securities has received just 50% of normal rental levels for the first quarter of 2021. The company, which predominantly owns a large retail portfolio and London offices, had collected £66m of the £112m due five days after billing tenants on 25 December 2020. It collected 81.25% of the £64m rent due from its office […]