(Alliance News) - Secure Income REIT on Friday said it has collected nearly all rent due following the end of the December quarter and January monthly rents collection cycle.
The real estate investment trust located in Beckenham, England said it has collected 99% of the GBP21.6 million rent due between December 25 and January 7. This includes rent received for the quarter beginning December 25 from Poole, England-based Merlin Entertainments Ltd following the end of its six months rent deferral period.
The deferred June and September quarter rents, which total GBP17.8 million, are due on September 29.
In addition, Secure Income REIT said the annualised rent for Thame, England-based Travelodge Hotels Ltd has increased to 70% from 32% between April to the end of December, which allowed for temporary company voluntary arrangement concessions. Rent is expected to revert to 100% of the original contracted amount on January 1, 2022.
Overall, only 0.5% of its annual gross rent roll remains outstanding at present for the current and any prior rent due dates.
Shares in Secure Income REIT were up 3.3% at 309.00 pence in London on Friday.
By Zoe Wickens; zoewickens@alliancenews.com
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