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Capital & Counties December rent collection at 42%, in line with previous quarter
StockMarketWire.com
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Property investment company Capital & Counties said it had collected 42% of first-quarter December rents, which was broadly in line with collection rates at the same point in the previous quarter.
Rent collection levels for previous periods, meanwhile, had continued to increase, with collections at 50%, 44% and 51% for Q2 to Q4 2020, the company said.
As at 31 December 2020, the property valuation for Capco's Covent Garden estate was £1.8 billion, down 13% in the second half of the year and 27% for the full year at £2.6 billion on a like-for-like basis.
'Whilst there are significant near-term challenges to trading and an uncertain economic outlook due to the impact of the pandemic, we are encouraged by the enduring appeal of Covent Garden for customers as evidenced by recovery in footfall and trade following easing measures in the second half of 2020,' the company said.
Capco said it intended to release its preliminary results for the year ended 31 December 2020 on Tuesday 9 March 2021.
At 8:03am: (LON:CAPC) Capital Counties Properties PLC share price was 0p at 141.1p
Story provided by StockMarketWire.com
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