Business
Encouraging Rent Collection, & Dividend Update
Encouraging Rent Collection, & Dividend Update.
About this update from Regional Reit Ltd.
[{"type":"text","content":"\n \n \n RNS Number : 3115S\n Regional REIT Limited\n 08 July 2020\n \n \n \n \n 8 July 2020\n \n \n REGIONAL REIT Limited\n \n \n (\"Regional REIT\", the \"Group\" or the \"Company\")\n \n \n \n \n \n Encouraging Rent Collection,\n \n \n & Dividend Update\n \n \n \n Regional REIT (LSE: RGL), the regional real estate investment specialist focused on building a diverse portfolio of income producing regional UK core and core plus office and industrial property assets, announces a Q1 and Q2 rent collection update.\n \n \n Further to the 21 May 2020 announcement, Q1 rent collection has continued to increase to 96.7% from 93.9%. This comprises 95.0% of Q1 rent paid and agreed collection plans with occupiers amounting to 1.7%. We anticipate collecting additional Q1 rent in due course.\n \n \n \n \n \n As at 6 July 2020, an encouraging 78.5% of the rent due had already been collected for Q2 or a payment plan has been agreed and is in place. Furthermore, at this point we are in discussion with an additional 12.6% of occupiers by income, and an update will be provided in due course. Therefore, it is expected that the rental collection amount will rise. \n \n \n \n \n \n As announced on 21 May 2020, when considering the Q2 dividend the Board will have regard to the financial position of the Group, including the level of rental income received. The Q2 dividend is expected to be announced on 26 August 2020. \n \n \n \n \n \n Stephen Inglis, Chief Executive Officer of London & Scottish Property Investment Management Limited, the Asset Manager commented:\n \n \n \n \n \n \"We are pleased that our integrated asset management platform has ensured a continued close working relationship with our occupiers through these difficult times, resulting in very strong Q1 and Q2 rent collections to date.\n \n \n \n \n \n It is particularly encouraging that the Q1 rent collection has continued to increase to the current level of 96.7%, compared with the same point last year of 97.7%, and similarly, we anticipate Q2 collections will continue to increase. We will update our shareholders in due course.\"\n \n \n \n \n \n \n \n \n \n \n \n - ENDS - \n \n \n Enquiries:\n \n \n \n \n \n Regional REIT Limited\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n ...