Landsec rent collection improves in September

Landsec has noted that its latest collection day recorded payment for 85% of the net rent due on 29 September.

This was a marked improvement against the 81% collected for the June quarter date on 21 June. 

Regional retail paid 83% of rent against the 73% collected in June, whilst office rent remained stagnant at 95%. 

The rest of central London paid 80% against the previous 71%, while ‘urban opportunities’ paid the same at 50% and subscale sectors paid 58% against 43%. 

In total, the landlord has now received £10m of the total £12m due from the retail sector, and £76 of the £89 due in total. 

Of the £13m of rent outstanding, £5m relates to customers who have withheld payment pending documentation of agreed concessions.