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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