Business
December 2020 Rent Collection
December 2020 Rent Collection.
About this update from Derwent London Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 3147L\n Derwent London PLC\n 12 January 2021\n \n \n \n \n \n Derwent London plc \n \n (\"Derwent London\" / \"the Group\")\n \n \n DECEMBER 2020 RENT COLLECTION\n \n \n \n \n \n \n A summary of Derwent London's rent collection to date for the December 2020 Quarter Day is provided below. We also provide an update of rent collection for the previous two quarters. \n \n \n \n \n \n The Group has now collected 83% of its total December Quarter Day rent and 87% of its office rent. Office rent represents c.91% of the Group's total rental income. These collection rates are higher than the June and September 2020 quarters at an equivalent time. Rent has continued to be received in relation to earlier quarters, with September rent collected now 92% compared with 80% when first announced on 13 October 2020, plus an additional 5% still to be received from agreed payment plans.\n \n \n \n \n \n December Quarter Day\n \n \n \n \n \n ·\n To date the Group has received 87% of office rents. This collection rate is higher than the equivalent figures released for the September and June quarters. A further 3% is due later within the first quarter with an additional 6% under agreed plans payable later in 2021\n \n \n ·\n We have now received 83% of the total rent, with a further 3% now expected later in the first quarter and another 5% later in 2021\n \n \n · \n Rent-free periods have been granted on 1% of total rents, in the retail and hospitality sectors\n \n \n · \n December quarter receipts include rent deposits of £88k\n \n \n · \n 88% of service charges for the quarter have been received so far\n \n \n \n \n \n \n \n \n \n \n \n \n December quarter\n \n \n \n \n \n \n \n \n \n \n Current position\n \n \n \n \n Office\n \n \n \n \n \n \n \n Retail/\n \n \n Hospitality\n \n \n \n \n Total\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Received to date\n \n \n \n \n 87%\n \n \n \n \n 26%\n \n \n \n \n 83%\n \n \n \n \n \n \n \n \n \n \n Due later in the quarter\n *\n \n \n \n \n 3%\n \n \n \n \n 8%\n \n \n \n \n 3%\n \n \n \n \n \n \n \n \n \n \n Payment plans 2021\n \n \n \n \n 6%\n \n \n \n \n 0%\n \n \n \n \n 5%\n \n \n \n \n \n \n \n \n \n \n Outstanding...