Q3 commercial rent collections have reached 77% at the 21-day
point, according to research from Cushman & Wakefield.
rent collections at day 21 stand at 87%, compared to 81% at the same point in
the June quarter. The collection rate for industrial assets is at 77%, an
increase of 7% on the previous quarter, due to burgeoning online sales to
However, the figures are still down on December 2019’s rent
collection levels which stood at 95% on day 21.
Nick Ridley, head of UK asset services at Cushman &
Wakefield, said: “We can see clearly in our latest data that rent collection
levels for the September quarter have been positively impacted by the reopening
of non-essential retail and return to the workplace, all of which have
increased consumer confidence and footfall.
“The return to work messaging in August was medicine for the
offices sector, which is reflected in the quarterly spike in rent collection
levels. However, we might see this momentum slow as the advice has switched to
working from home. Industrial is doing well, which includes logistics and
warehousing, vital to the current appetite for online ordering – rent
collections for tenants in this sector are set to continue on a trajectory of
recovery for the rest of the year.”