Great Portland Estates PLC (LON:GPOR) said it is taking rent deposits and bank guarantees against outstanding June rent as tenants are struggling to pay amid the coronavirus crisis.
The FTSE 250-listed landlord is focused on offices and commercial spaces in central London, which have been hit hard by the lockdown.
READ: Great Portland Estates expects fall in demand, raises dividend
In June, the group said, 69% of rent was collected, 11% of which were deposits worth £2.5mln, while now all offices are open and operating against safety measures.
In the quarter to June 30, 2020, the real estate investment trust said it signed new contracts worth £4.3mln of annual rent.
At period end it had £90mln in the bank plus undrawn borrowing facilities of £300mln.
Shares were flat at 608.2p early on Friday.
--Adds shares--