British Land Says 85% Of June 2021 Rent Collected To Date

Property development and investment company British Land Co. Plc (BRLAF.PK, BTLCY.PK, BLND.L) said that it has collected 85% of June 2021 rent to date; The rent collection is now 99% in Offices, and 71% in Retail.

Retail collection was 24 percentage points ahead of rent collection at the same point for the December quarter.

Across the business, 87 million pounds of rent was due for payment in the June 2021 quarter. It comprised of 43 million pounds in Retail and 44 million pounds in Offices.

As of 8 July 2021, 11 working days after the quarter end, the company had collected 85% of the total amount. It compared to 72% of the total amount collected at the same point following the December quarter end and 76% following the March quarter end.

The company noted that its rents for the March quarter are now 91% collected, with 99% in Offices and 85% collected in Retail.

The company announced 183,000 sq ft campus lettings in the first quarter including 134,000 sq ft to JLL at 1 Broadgate. It is under offer on a further 419,000 sq ft of space.

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