(Alliance News) - LondonMetric Property PLC on Thursday announced it has collected 98% of the GBP22.8 million December quarterly and monthly rents due, with a further 1% expected imminently.
The FTSE 250-listed real estate investment trust focused on urban logistics said the outstanding rent is just over GBP200,000 and it is in discussions about GBP100,000 and the balance, subject to companies in administration. This mostly relates to a property where the company is securing vacant possession for a new letting to German supermarket chain Lidl Stiftung & Co KG, it said.
LondonMetric said rent collection has been high across all of its sectors during the period, with distribution properties at 99%, long income at 98%, offices at 100% and retail parks at 95%. For comparison, in respect of rental payments due up to October 1, 100% of distribution rent due has been or is being collected, with long income at 92%, offices at 97% and retail parks at 83%.
A further GBP900,000 of rent is due by February 1 and March 1 under agreed monthly rental concessions, LondonMetric said. It has not agreed to any further deferred payment plans and all existing agreed plans are being honoured, with GBP1.2 million rent collected to date.
Shares in LondonMetric were up 1.1% at 232.44 pence in London on Thursday.
By Zoe Wickens; zoewickens@alliancenews.com
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