LondonMetric - Rent collection update

RNS Number : 6248L

LondonMetric Property PLC

14 January 2021

LONDONMETRIC PROPERTY PLC

Rent collection update

LondonMetric Property ("Company") announces an update on December 2020 rent collection.

The Company reports that, of the £22.8 million December quarterly and monthly rents due, it has collected 98% with a further 1% expected imminently. Rent collection is high across all sectors with distribution at 99%, long income at 98%, offices at 100% and retail parks at 95%.

The outstanding rent, therefore, is just over £0.2 million with active discussions continuing on £0.1 million and the balance subject to companies in administration; mostly relating to a property where we are securing vacant possession for a new letting to Lidl.

A further £0.9 million of rent is due by 1^st February and also 1^st March under agreed monthly rental concessions.

No further deferred payment plans have been agreed and all previously agreed plans are being honoured with £1.2 million collected to date.

For further information, please contact:

LondonMetric Property Plc

Andrew Jones / Martin McGann / Gareth Price

Tel: +44 (0) 20 7484 9000

FTI Consulting

Dido Laurimore / Richard Gotla / Andrew Davis

Tel: +44 (0) 20 3727 1000

londonmetric@fticonsulting.com

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Quick facts: LondonMetric Property PLC

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Market: LSE

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