Business
Rent Collection & Trading Update
Rent Collection & Trading Update.
About this update from Real Estate Investors Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 1583E\n Real Estate Investors PLC\n 04 November 2020\n \n \n \n \n \n \n \n Real Estate Investors Plc\n \n \n (\"REI\" or the \"Company\" or the \"Group\")\n \n \n \n \n \n Rent Collection & Trading Update\n \n \n \n \n \n \n \n \n Real Estate Investors Plc (AIM: RLE), the UK's only Midlands-focused Real Estate Investment Trust (REIT) with a diversified portfolio of 1.59 million sq ft of investment property across all sectors, is pleased to advise that rent collection for previous and current quarters continues to improve.\n \n \n \n \n \n Updated rent collection for the March quarter (March to June) is now 93.44% (adjusted for monthly and deferred agreements) up from 90.7% reported on 21 September, 90.16% reported on 15 July and 81% reported on 15 June. \n \n \n \n \n \n June quarter (June to September) rent collection has now risen to 90.23% (adjusted for monthly and deferred agreements), up from 86.9% reported on 21 September and 81.94% reported on 15 July.\n \n \n \n \n \n September quarter (September to December) rent collection is currently 89.92% (adjusted for monthly and deferred agreements).\n \n \n \n \n \n Rent Collection Table\n \n \n \n \n \n \n \n \n \n Rent Collections\n \n \n \n \n March Quarter\n \n \n \n \n June Quarter\n \n \n \n \n September Quarter\n \n \n \n \n \n \n Collected\n \n \n \n \n 83.08%\n \n \n \n \n 85.59%\n \n \n \n \n 85.31%\n \n \n \n \n \n \n Deferred arrangement\n \n \n \n \n 10.36%\n \n \n \n \n 4.64%\n \n \n \n \n 4.61%\n \n \n \n \n \n \n Total\n \n \n \n \n 93.44%\n \n \n \n \n 90.23%\n \n \n \n \n 89.92%\n \n \n \n \n \n \n Debtors\n \n \n \n \n 6.56%\n \n \n \n \n 9.77%\n \n \n \n \n 10.08%\n \n \n \n \n \n \n \n \n \n We continue to be in supportive dialogue with a number of tenants and anticipate that unpaid rents will be received from these tenants as they become able to commence normalised trading again.\n \n \n \n \n \n There also remain a number of tenants that continue to delay paying and are taking full advantage of government restrictions on landlords. These tenants have the ability to pay but are refusing to do so whilst these rules are in force, though some of them have now engaged in a dialogue and have agreed settlement arrangements.\n \n \n \n \n \n We remain ...