 gave an update on its rent collection for the quarter ending in June, confirming that the property development company has collected 81% of £103m it is owed.){kind=link}
Land Securities confirmed that its Q1 dividend for the 2021/22 financial year will be 7p
Land Securities (LON:LAND) gave an update on its rent collection for the quarter ending in June, confirming that the property development company has collected 81% of £103m it is owed.
Most of the rent collected was from offices, with 95% collected, while regional retail spaces came in at 73%, and the rest of London had a collection rate of 71%.
Urban opportunities (50%), along with sub scale sectors (43%), saw the lowest levels of rent collection over the same time period.
Of the £18m of rent outstanding, £6m relates to customers who have withheld payment pending documentation of agreed concessions, the FTSE 100 company confirmed.
“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 date, £50m of rent concessions has been allocated to customers,” the company said in a statement.
Land Securities also confirmed that its Q1 dividend for the 2021/22 financial year will be 7.0p per ordinary share.
The Land Securities share price is up by 2.28% during the first hour of trading on Friday.