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Sirius Real Estate reports strong rent collection rate
StockMarketWire.com
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Sirius Real Estate said it collected nearly all the rent from its German business parks despite the Covid-19 pandemic.
It recorded a cash collection rate of 98% and wrote off just €205,000 out of total rent and service charge invoicing of €141.2 million in the 12 months to December.
As at 31 December 2020, from a tenant base of over 5,000 tenants, the group had entered into 16 deferred payment plans with 43 tenants adversely impacted by the pandemic amounting to €0.4 million.
The company's strong rent and service charge collection continued throughout the Covid-19 pandemic, collecting 97.7% of rent and service charges billed in the first nine months of the current financial year.
Andrew Coombs, chief executive of Sirius Real Estate, said: Our enquiries, sales and cash collection performance, as well as the robust commitment of the German government to supporting business throughout 2021, give us confidence in our ability to continue to trade well through the Covid-19 environment.
With total cash balances in excess of €70.0 million the company has the capacity to continue to make acquisitions as opportunities arise.
At 8:03am: (LON:SRE) Sirius Real Estate LD share price was 0p at 85.2p
Story provided by StockMarketWire.com
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