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18 Jan 2021 07:00
18 January 2021
December 2020 Rent Collection
McKay Securities Plc ("McKay" or "the Company"), the only UK REIT specialising entirely in the office, industrial and logistics markets of the South East and London, provides a summary of its December 2020 quarter rent collection and an update on collection rates for the financial year.
Simon Perkins, CEO of McKay, commented:
"We continue to secure high levels of rent collection, benefiting from the close relationships built up through our direct in-house portfolio management. We have so far collected 86% of the total rent due for the December quarter, increasing to 91% on receipt of agreed monthly payments.
Continued collection of outstanding rents from the previous three quarters has taken collection for the financial year to date to 91%, increasing to 95% on receipt of monthly and deferred rents."
December 2020 quarter
· 86% of total December quarter rents received, increasing to 91% on receipt of agreed monthly payments later in the quarter
· Positive discussions in relation to the remaining outstanding rent expected to generate further collection over the quarter
Financial Year to Date
· 91% of all contracted rent collected, increasing to 95% on receipt of monthly and other deferred payments
· Of the outstanding 5%, collection of up to a further 3% is anticipated
For further information, please contact:
McKay Securities Plc FTI Consulting
Simon Perkins, CEO Dido Laurimore, Talia Jessener
Giles Salmon, CFO 0203 727 1000
0118 950 2333 mckay@fticonsulting.com
About McKay Securities
McKay Securities Plc is a commercial property investment company with Real Estate Investment Trust (REIT) status, listed on the main market of the London Stock Exchange. It specialises in the development and refurbishment of office, industrial and logistics buildings within proven markets of South East England and London. The portfolio at 30 September 2020 comprised 33 properties, valued at £438.95m, located in established areas, predominantly along the M4 corridor, where McKay has deep expertise, with a focus on growing satellite towns benefitting from strong connectivity to London and robust demand amongst leading occupiers.
www.mckaysecurities.plc.uk
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