Business
Positive Rent Collection Update: Q3 already 91.3%
Positive Rent Collection Update: Q3 already 91.3%.
About this update from Regional Reit Ltd.
[{"type":"text","content":"\n \n \n \n RNS Number : 1851Q\n Regional REIT Limited\n 26 October 2021\n \n \n \n 26 October 2021\n \n REGIONAL REIT Limited\n \n \n (\"Regional REIT\", the \"Group\" or the \"Company\")\n \n \n Positive Rent Collection Update: Q3 already 91.3%\n \n \n \n \n \n Regional REIT Limited (LSE: RGL), the UK regional office specialist, is today pleased to provide the following rent collection update.\n \n \n \n \n \n As at 21 October 2021, the Company had collected 91.3% of the rent due for Q3 2021. This comprised rent received of 87.5%, monthly rents of 2.1% and agreed collection plans of 1.7%.\n \n \n \n \n \n The table below sets out the status of the rent collection for Q1, Q2 and Q3 as at 21 October 2021.\n \n \n \n \n \n \n \n \n \n \n \n %\n \n \n \n \n Q1 2021\n \n \n \n \n Q2 2021\n \n \n \n \n Q3 2021\n \n \n \n \n YTD \n \n \n \n \n \n \n Rent received\n \n \n \n \n 97.5\n \n \n \n \n 97.1\n \n \n \n \n 87.5\n \n \n \n \n 93.6\n \n \n \n \n \n \n Adjusted for monthly rents\n \n \n \n \n 0.2\n \n \n \n \n 0.4\n \n \n \n \n 2.1\n \n \n \n \n 1.0\n \n \n \n \n \n \n Agreed collections plans\n \n \n \n \n 1.7\n \n \n \n \n 1.5\n \n \n \n \n 1.7\n \n \n \n \n 1.6\n \n \n \n \n \n \n \n \n \n \n \n \n \n 99.4\n \n \n \n \n 99.0\n \n \n \n \n 91.3\n \n \n \n \n 96.2\n \n \n \n \n \n Table may not sum due to roundings.\n \n \n \n \n \n \n \n \n Quarterly rental collection refers to all invoices issued during the calendar quarters:\n \n \n Q1: 1 January 2021 to 31 March 2021\n \n \n Q2: 1 April 2021 to 30 June 2021\n \n \n Q3: 1 July 2021 to 30 September 2021\n \n \n \n \n \n As at 21 October 2021, the 93.6% of rent received year to date compares favourably with the equivalent period in 2020 of 91.7%. \n \n \n \n \n \n The Company remains in supportive and ongoing discussions with tenants regarding the remainder of the outstanding rent, and expects to collect the vast majority of it in due course.\n \n \n \n \n \n With rent collection rates now close to pre-Covid levels, Regional REIT proposes that future quarterly rent collection updates will be included within our normal reporting timetable. This will be kept under review.\n \n \n \n \n \n Stephen Inglis, CEO of London & Scottish Property Investment Management, the Asset Manager of Regional REIT commented...