RDI says rent collection continues to improve
The group’s collection rate now stands at 90.2%, while negotiations with tenants continue
London and JSE-listed landlord RDI, which has been selling off its assets in Germany to focus on the UK, says it is seeing continued improvement in rent collection as the property sector adjusts to a battering from Covid-19.
RDI, which had a portfolio valued at £1.3bn (R27.7bn) at the end of February, said on Friday it collected about 81.5% of rent for its September quarter, from 70.1% in June. These figures also take into account tenants that pay monthly, rather than quarterly.
“Negotiations with occupiers and clients are ongoing,” the group said. “As we have seen for previous periods, collection rates are expected to improve or, in certain cases, result in agreements to remove break options or extend leases.”
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