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Landlords collect less than a fifth of rents

Office landlords suffered the worst quarter-on-quarter decline in rent collections this week
Landlords collect less than a fifth of rents

Commercial landlords collected less than a fifth of the rent due for the third quarter, with office landlords suffering the largest decline since the March collection date.

Just over 18 per cent of rent was received on 24 June, according to data compiled by commercial property management platform Re-Leased, down from 25 per cent three months earlier. 

Retailers including JD Sports (JD.) and Primark had already signalled that they were attempting to renegotiate lease terms ahead of the collection date, after withholding some rent due in March. 

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