Business
December quarter rent collection
December quarter rent collection.
About this update from Land Securities Group Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 3165L\n Land Securities Group PLC\n 12 January 2021\n \n \n \n \n 12 January 2021\n \n \n Land Securities Group PLC ('Landsec')\n \n \n December quarter rent collection\n \n \n In response to the continued impact of Covid-19 on Landsec's operations, the Company has issued the following information on December rent collection.\n \n \n \n Cash collection and customer support\n \n \n We continue to take a proactive approach to addressing the challenges the pandemic presents to our people, our customers and our business. In early April 2020, we established a customer support fund of £80m for occupiers who most need our help to survive. To date, £24m of rent concessions have been allocated to customers. \n \n \n £112m of rent was due on the 25 December payment date. The table below shows the amount and percentage of this rent collected within five working days after adjusting for the impact of customers having entered CVAs and administrations, concessions agreed out of the fund and agreed monthly and deferred payment terms. 65% of this net rent was paid within five working days, compared with 94% for the equivalent period last year.\n \n 25 December 2020 quarter(1)(2)\n \n \n \n \n \n \n \n \n \n \n \n \n Agreed changes in payment terms\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Gross amounts due 25 December\n £m\n \n \n Impact of CVAs and admins\n £m\n \n \n Concessions\n £m\n \n \n Monthly payment terms\n £m\n \n \n Deferred payments\n £m\n \n \n Net amounts due 25 December\n £m\n \n \n Day 5 amount received\n £m\n \n \n Day 5 amount received\n %\n \n \n Day 5 amount received\n Dec 19\n %\n \n \n \n \n \n Offices\n \n \n \n \n 64\n \n \n \n \n -\n \n \n \n \n (1)\n \n \n \n \n (3)\n \n \n \n \n -\n \n \n \n \n 60\n \n \n \n \n 52\n \n \n \n \n 87\n \n \n \n \n 96\n \n \n \n \n \n \n Rest of Central London\n \n \n \n \n 9\n \n \n \n \n -\n \n \n \n \n -\n \n \n \n \n (2)\n \n \n \n \n -\n \n \n \n \n 7\n \n \n \n \n 2\n \n \n \n \n 29\n \n \n \n \n 87\n \n \n \n \n \n \n Regional retail\n \n \n \n \n 17\n \n \n \n \n (1)\n \n \n \n \n -\n \n \n \n \n (2)\n \n \n \n \n -\n \n \n \n \n 14\n \n \n \n \n 5\n \n \n \n \n 36\n \n \n \n \n 90\n \n \n \n \n \n \n Urban opportunities\n \n \n \n \n 5\n \n \n \n \n -\n \n \n \n \n -\n \n \n \n ...