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 […]
Irish commercial property owner Yew Grove REIT has announced it has collected almost 100% of rents for the first quarter of 2021. All quarterly rent billed for the current quarter at the end of December, which accounts for 90.35% of its rent roll, has been received. Just €3,175 of the monthly rental agreements, which account […]
Student accommodation specialist Unite has announced a rent discount for students following the latest lockdown in the UK. It said its student tenants will be able to apply for a discount of 50% of their rent for a total of four weeks and, in addition, will be given a four-week complimentary extension of their tenancy agreement […]
British Land has provided an update on operational performance in which rent collection was at 71% for the first quarter of 2021. The group said of the £86m billed (which doesn’t include Scottish assets that are billed in February and quarterly payments for February and March), 24% was outstanding – the majority of which was […]
Forced closures, withheld rent and suspended dividends, the real estate sector had a tumultuous 2020. There were, however, some property sectors and companies that performed well during the year. So, what can be gleaned from looking at the performance of individual property companies during an unprecedented year of disruption, especially as we enter a third […]
Secure Income REIT has announced it has collected 98.6% of rents due for the first quarter of 2021. The company said this included rent due from Alton Towers owner Merlin Entertainments, following the end of their six month rent deferral period, and the new contractual rents agreed with Travelodge. The deferred rent from Merlin for […]
Sirius Real Estate, the owner and operator of business parks in Germany, has completed the acquisition of three assets totalling €26m, signalling a return to acquisitive growth for the company after holding back whilst assessing the impact of COVID-19. The acquisitions are in Norderstedt, Hamburg for €9.1m, Nuremberg for €13.7m and Mannheim for €3.2m. They generate […]
Retail park investor and developer Ediston Property Investment Company has delivered a net asset value (NAV) total return for the year to 30 September 2020 of -16.6% as COVID impacts the value of its properties. Operationally, the year was a strong one despite the effects of the pandemic. The group carried out eight asset management […]
The impact of the COVID-19 pandemic on London’s West End was laid bare in Shaftesbury’s full year results, which saw net asset value (NAV) fall 24.3%. The company, which owns a 16-acre portfolio of assets in London’s West End including Carnaby Street, posted an EPRA NAV of £7.43 per share at 30 September 2020 (2019: […]
