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Great Portland Estates secures 84% of March-quarter rent on improving trend
StockMarketWire.com
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Real estate company Great Portland Estates said it had collected 84% of rent for the year ended 31 March, with collections in the final quarter ahead of all four previous quarters.
For the quarter to 31 March 2021, 79% of rents due was secured within seven working days, compared with 68% by the December quarter, which had now risen to 81%, the company said.
The easing of Covid-19 restrictions is expected to boost rent collection and letting activity, the company said. Ten new lettings was completed during the quarter, generating £4.4 million annual rent.
Looking forward, the company said it was discussions with Southwark with the aim of submitting a planning application for Minerva House, SE1 in the coming quarter.
Annual results was expected to be released on Wednesday 19 May 2021.
At 8:00am: (LON:GPOR) Great Portland Estates PLC share price was 0p at 688p
Story provided by StockMarketWire.com
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