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Landsec collects 60% of rent


Landsec collected 60% of rent owed on the last quarterly rent day of 24 June, but said only 29% of its retail clients paid within the five day time frame.

This compares to Landsec collecting 94% of rent at the same time in 2019. It owns retail spaces such as The Galleria shopping centre in Hatfield.

The company reported that 75% of rent due from the previous March quarterly rent day has now been collected, but that office occupants are the most diligent occupiers.

Following the easing of restrictions on non-essential retail in England, Scotland and Wales, all of its shopping centres, outlets and retail parks are now open. Landsec said the level of footfall since non-essential stores reopened was “encouraging”.

 

 





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