Industrial property specialists Segro PLC (LON:SGRO) and Tritax Big Box REIT PLC (LON:BBOX) confirmed today they have seen little of the rent collection problems affecting other parts of the sector.
Segro said it has received 93% of £37mln rent due for the June quarter after allowing for adjusted payment terms. A further £9mln of rent ordinarily due will mostly be paid in the second half of 2020, it said.
For the previous quarter 98% of rent had been received, the FTSE 100-listed group added.
Segro raised £680mln though a placing in June to accelerate its development plans and fund acquisitions.
Warehouse specialist, Tritax, meanwhile, said it expects 97% of third-quarter rent will be collected by the end of August including 13% being paid on a monthly basis.
Around 96% of second-quarter rent has been paid, the group added, with to date, no rent-free periods or rent reductions in the portfolio.
Industrial property has been among the strongest performers in the sector as online shopping has boomed, while some traditional shopping centre owners have seen rental collections drop to as low as 18%.