(Alliance News) - Secure Income REIT PLC on Thursday said it has collected 100% of GBP12.4 million rent due between September 29 and Thursday, after allowing for rent adjustment agreed with certain tenants.
The real estate investment trust stated that following the Travelodge company voluntary arrangement, rents have been reduced in 2020 and 2021 after which rents return to the levels originally contracted from January 1, 2022. It added that Travelodge rents of GBP1.3 million were received when due on October 1 and October 7, noting that there are no arrears outstanding from the hotel operator from any prior period.
Secure Income said rents due for the Merlin leisure assets for the June and September 2020 quarters have been deferred for collection in September 2021 and as a result, no payment is currently expected.
Only 0.1% of the annualised gross rent roll is outstanding in total for any current and prior rent due dates, the company explained.
Shares in Secure Income REIT were trading 2.5% higher at 269.50 pence each on Thursday morning in London.
By Ife Taiwo; ifetaiwo@alliancenews.com
Copyright 2020 Alliance News Limited. All Rights Reserved.