Derwent London collects 87% of total quarterly rents

Real estate firm Derwent London said on Tuesday that it had now received 87% of total quarterly rents, with a further 5% expected later in the period.
Derwent said rent-free periods had been granted on 1% of total rents, mainly for retail and hospitality tenants, but stated it had still pulled in a total of ยฃ42.2m for the quarter so far.

The FTSE 250-listed firm highlighted that offices represented 91% of its total rental income and to date had received 91%, compared to 78% reported on 8 April 2020 for the March 2020 quarter day

89% of service charges for the quarter had been received so far.

Derwent also highlighted that rents agreed to be paid later within the December 2020 quarter had continued to be received, with the group now collecting 91% of the December 2020 quarter rents, with another 5% subject to agreed payment plans.

For the September 2020 quarter, Derwent has now received 92% of rents, with another 5% subject to payment plans.

As of 0850 BST, Derwent shares were up 2.30% at 3,402.65p.

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