TIDMLAND

RNS Number : 1616P

Land Securities Group PLC

15 October 2021

15 October 2021

Land Securities Group PLC ('Landsec')

September 2021 quarter day rent collection data

Rent collection rates continue to improve. As at 12 October 2021 - collection day 10 - 85% of the net rent due on 29 September had been paid, this compares with 81% for the June quarter date. The breakdown of the rent collection by segment is as follows:

29 September 2021 quarter(1)(2) - Rent collection day 10

 
                                                                 Net 
                                                                                                 Day 10 
                       Gross amounts         Monthly         amounts                             amount 
                                 due         payment             due                           received 
                                                                          Day 10      Day 10 
                                                                          amount      amount 
                        29 September    terms agreed    29 September    received    received    June 21 
                                GBPm            GBPm            GBPm        GBPm           %          % 
--------------------  --------------  --------------  --------------  ----------  ----------  --------- 
Offices                           57             (1)              56          53         95%        95% 
Rest of Central 
 London                            6             (1)               5           4         80%        71% 
Regional 
 retail                           14             (2)              12          10         83%        73% 
Urban opportunities                5             (1)               4           2         50%        50% 
Subscale 
 sectors                          14             (2)              12           7         58%        43% 
                                                                                              --------- 
                                  96             (7)              89          76         85%        81% 
--------------------  --------------  --------------  --------------  ----------  ----------  --------- 
 
   1.     Including our proportionate share of subsidiaries and joint ventures. 

2. All amounts are shown gross of VAT. Where an amount billed remains uncollected and is subsequently written off, the VAT component will be recovered by the Group.

Of the GBP13m of rent outstanding, GBP5m relates to customers who have withheld payment pending documentation of agreed concessions.

Half-yearly results

Landsec will be announcing its half-yearly results for the six months to 30 September 2021 on Tuesday 16 November 2021.

Ends

About Landsec

At Landsec, we build and invest in buildings, spaces and partnerships to create sustainable places, connect communities and realise potential. We are one of the largest real estate companies in Europe, with a GBP10.8 billion portfolio of retail, leisure, workspace and residential hubs. Landsec is shaping a better future by leading our industry on environmental and social sustainability while delivering value for our shareholders, great experiences for our guests and positive change for our communities.

Find out more at landsec.com

 
 Please contact: 
 Press                     Investors 
                          --------------------------- 
 Jonathan Sibun (Tulchan   Ed Thacker 
  Group) 
                          --------------------------- 
 +44 (0) 7779 999 683      +44 (0) 20 7024 5185 
                          --------------------------- 
 jsibun@tulchangroup.com   edward.thacker@landsec.com 
                          --------------------------- 
 

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END

UPDFLFEDIALSLIL

(END) Dow Jones Newswires

October 15, 2021 02:00 ET (06:00 GMT)

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