{"id":165341,"date":"2021-07-09T09:01:22","date_gmt":"2021-07-09T09:01:22","guid":{"rendered":"https:\/\/www.theindustry.fashion\/landsec-collects-81-of-quarterly-rent-amid-reopening-boost\/"},"modified":"2021-09-11T14:18:33","modified_gmt":"2021-09-11T14:18:33","slug":"landsec-collects-81-of-quarterly-rent-amid-reopening-boost","status":"publish","type":"post","link":"https:\/\/www.theindustry.fashion\/landsec-collects-81-of-quarterly-rent-amid-reopening-boost\/","title":{"rendered":"Landsec collects 81% of quarterly rent amid reopening boost"},"content":{"rendered":"<p>Commercial property giant Land Securities (Landsec)<strong> collected 81% of rent over the past three months<\/strong> as it hailed the return of more people to workplaces.<\/p>\n<p><!--more--><\/p>\n<p>The Bluewater owner said it has <strong>received \u00a377m in rent payments for the quarter to 24 June.<\/strong><\/p>\n<p>The group said there is <strong>\u00a318m of rent outstanding,<\/strong> with \u00a36m of this relating to customers where concessions have been agreed but documentation is pending.<\/p>\n<p>In May, the company reported that l<strong>osses for the 12 months to March 31 widened sharply to \u00a31.4bn <\/strong>after it saw rental income plunge.<\/p>\n<p>Landsec, which owns large areas of property in central London, said it has been encouraged by the recent loosening of pandemic restrictions.<\/p>\n<p>CEO Mark Allan said: \u201cAs restrictions are reduced, <strong>we\u2019re seeing more people returning to work and more businesses trading more freely.<\/strong><\/p>\n<p>\u201cWe\u2019ve been <strong>delighted with the numbers of our customers and partners who have engaged with us<\/strong> as a result, both to address their rent arrears and pay a sustainable rent as they are trading again.\u201d<\/p>\n<p>Allan said this shows that the Government\u2019s broad approach to rolling back the current rent moratorium has brought \u201clandlords and tenants together to negotiate constructively\u201d.<\/p>\n<p>The ban on commercial evictions had been due to expire in June but has been extended until March next year.\u00a0But Allan called on the Government to accelerate this to address tenants who will not negotiate.<\/p>\n<p>\u201cHowever, it also highlights the need to accelerate the moratorium legislation so that we can <strong>meaningfully address those last remaining well-capitalised businesses who continue to refuse to engage<\/strong> with us,\u201d he said.<\/p>\n<p>Shares in the company were 2.2% higher at 682.1p in early trading on Friday.<\/p>\n<p><a href=\"https:\/\/www.theindustry.fashion\/subscribe-now\/\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-144088 size-full\" src=\"https:\/\/www.theindustry.fashion\/wp-content\/uploads\/Daily-Newsletter-Banner.png\" alt=\"Newsletter banner\" width=\"1680\" height=\"268\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Commercial property giant Land Securities (Landsec) collected 81% of rent over the past three months as it hailed the return of more people to workplaces.<\/p>\n","protected":false},"author":68,"featured_media":144608,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[10585,6,20823,10494],"tags":[11675,7563,12266,18283,9786],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - 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