Business
Latest Rent Collections and Notice of HY Results
Latest Rent Collections and Notice of HY Results.
About this update from Town Centre Securities Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 0740M\n Town Centre Securities PLC\n 19 January 2021\n \n \n \n 19 January 2021\n Town Centre Securities PLC\n ('The Company' or 'TCS')\n \n Latest Rent Collections and Notice of Half Year Results\n Consistent and reassuring collection level in current quarter\n Town Centre Securities Plc, the Leeds, Manchester, Glasgow and London property investment, development and car park operator, today provides an update on rent collections for the current English quarter and an update on previous collections since the beginning of the COVID-19 pandemic. Collected and deferred rent receipts for the current quarter stand at 86% of the total due.\n \n Rent Collections:\n \n \n \n \n \n \n \n \n March - December\n \n *\n \n \n \n \n %\n \n \n \n Latest Quarter\n \n **\n \n \n \n \n %\n \n \n Cumulative\n \n \n %\n \n \n \n \n Total billed\n \n \n £19.4m\n \n \n \n \n \n £5.2m\n \n \n \n \n \n £24.6m\n \n \n \n \n \n \n \n Total collected\n \n \n £16.5m\n \n \n 85%\n \n \n £3.9m\n \n \n 76%\n \n \n £20.4m\n \n \n 83%\n \n \n \n \n \n Agreed to be deferred\n \n ***\n \n \n \n \n £0.5m\n \n \n 3%\n \n \n £0.6m\n \n \n 10%\n \n \n £1.1m\n \n \n 4%\n \n \n \n \n Agreed total\n \n \n £17.0m\n \n \n 88%\n \n \n £4.5m\n \n \n 86%\n \n \n £21.5m\n \n \n 87%\n \n \n \n \n \n *English & Scottish quarters, and monthly billings (collections from 25 March 2020 to date)\n \n \n **English quarter only (collections due on 25 December 2020 and 1 January 2021)\n \n \n *** Agreed to be deferred and still outstanding\n \n \n Current quarter:\n \n · TCS billed a total of £5.2m of rent and service charge (including VAT) for the English quarters payable on 25 December 2020 and 1 January 2021\n \n · As of 18 January 2021, TCS had successfully collected £3.9m or 76%. A further £0.6m or 10% has been agreed to be deferred. This totals an agreed collection of £4.5m or 86%\n \n · Collection levels for the latest quarter are consistent with previous quarters' levels at this stage. We expect the 76% collection levels to rise as we have seen improvement in each successive quarter previously\n \n · Of the £0.7m remaining, £0.05m has been waived with the remainder still due and under discussion\n \n · Premier Inn, owned by Whitbread Plc, unexpectedly paid only half of their rent due for the latest qua...