Data from cloud based
commercial property management platform Re-Leased has analysed rent collection
figures 21 days since 24 June, illustrating that commercial tenants in the UK
have now paid 57% of rent due since the rent quarter day.
to the 21 day mark in March, the 57% is slightly higher than the 54% collected
in the last quarter.
rent quarter day, just 18.2% of commercial rents were collected. However, that
figure rose to 46% by day seven.
retail assets continue to be the poorest performing, office and industrial
assets demonstrate improved resilience, with 65% of rent collected from both
asset classes at the 21 day mark. Notably, all asset types are now reporting
stronger rates of rent collection compared to March.
Wallace, Re-Leased’s chief executive, said: “The rate of rent collection for
the June quarter has been steadily strengthening over the past three weeks and
the latest data shows that it has stabilised when compared to the same point in
the cycle for March. It is very encouraging to see all asset types are now
trending upwards compared to the last quarter.
easing of lockdown has meant more people are spending on the high street and
getting back to the office, and this has restored some confidence. However, we
must not overlook the fact that landlords have yet to receive almost half of
rent due, and this will be causing huge financial strain.”