Landsec collects just 65 percent of rent owed

British shopping centre operator Landsec has seen a year-on-year drop in collected rent for the final three months of the year as retailers struggle to make payments.

The company announced Tuesday that 112 million pounds worth of rent was due on the 25 December payment date, but only 65 percent of that was paid, compared with 94 percent for the equivalent period last year.

Landsec said it continues to take “a proactive approach to addressing the challenges the pandemic presents to our people, our customers and our business”.

In early April 2020, the business established a customer support fund of 80 million pounds for occupiers who are struggling the most. To date, 24 million pounds of rent concessions have been allocated to customers.

Photo: Bluewater. Photo credit: Landsec

 

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