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LondonMetric - Rent collection update

RNS Number : 6248L
LondonMetric Property PLC
14 January 2021
 

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 1st February and also 1st 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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