15th Jan 2021 08:22
(Alliance News) - Segro PLC on Friday announced it has collected 98% of the total GBP417 million rent due for 2020.
Regarding UK rents payable in advance relating to the first quarter of 2021, the London-based FTSE 100-listed real estate investment trust said it has received 88% of the GBP63 million total rent due as at January 14. This represents a higher collection level than at the equivalent time in each of the three previous quarters, it added.
The second quarter to fourth quarter 2020 collection rate for the group is currently 97%, excluding the first quarter of 2020 when rent collection was not affected by the Covid-19 pandemic.
Rents in Segro's continental European portfolio are typically paid monthly, so it is still early in the collection cycle, the company said.
"We expect the substantial balance of outstanding rents to be paid by the end of the quarter, with the majority now due to be paid monthly," Segro said.
Shares in Segro were up 0.5% at 971.40 pence in London on Friday.
By Zoe Wickens; [email protected]
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