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McKay Securities collects 70% of September quarter rent
StockMarketWire.com
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Office and industrial property investor McKay Securities said it had collected 70% of rent due for the September quarter.
The company said the rate would increase to 87% 'on receipt of agreed monthly payments'.
Positive discussions in relation to the remaining outstanding rent were expected to generate further collection over the quarter, it added.
'We continue to work closely with our occupiers, benefiting from the relationships built up through our direct in-house portfolio management,' chief executive Simon Perkins said.
'We have collected 70% of rent so far for the September quarter, increasing to 87% on receipt of agreed monthly payments, and have materially increased rent collection for the March and June quarters.'
Perkins said that, despite the ongoing challenges of Covid-19, McKay had an 'active and positive quarter' that left it in a strong financial position in the face of increasing economic uncertainty.
Story provided by StockMarketWire.com
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