SEGRO PLC: Statement re Update on Rent Collection
January 15 2021 - 2:00AM
UK Regulatory
TIDMSGRO
UPDATE ON RENT COLLECTION
SEGRO plc ("SEGRO" or the "Group") today updates the market on
its continued strong rent collection for the full year to 31
December 2020 and the first quarter of 2021.
For the year ending 31 December 2020, to date we have collected
98 per cent of all rents.
In respect of UK rents payable in advance relating to the first
quarter of 2021, as at 14 January, we had received 88 per cent of
the GBP63 million of rent due. This represents a higher collection
level than at the equivalent time in each of the three previous
quarters.
We expect the substantial balance of outstanding rents to be
paid by the end of the quarter with the majority now due to be paid
monthly.
Rental collection update(1) (as at 14 January 2021)
FY 2020 Q1 2021(2)
UK CE Group UK
Paid % 97 98 98(3) 88
Deferrals (including payment plans) % 2 0 1 8
Outstanding % 1 2 1 4
Total % 100 100 100 100
Total rent billed GBPm 245 172 417 63
1 Based on exchange rate of EUR1.12:GBP1
2 Rents in our Continental European portfolio are typically paid
monthly so we are still early in the collection cycle
3 The Q2-Q4 2020 collection rate for the Group is currently 97%,
excluding Q1 2020 (when rent collection was not affected by
Covid-19).
CONTACT DETAILS FOR INVESTOR / ANALYST AND MEDIA ENQUIRIES:
SEGRO Soumen Das (Chief Financial Tel: +44 (0) 20 7451 9110
Officer)
Claire Mogford (Head of Investor Tel: +44 (0) 20 7451 9048
Relations)
Lizzie Humphreys (External Tel: +44 (0) 20 7451 9129
Communications Manager)
FTI Consulting Richard Sunderland / Claire Turvey Tel: +44 (0) 20 3727 1000
/ Eve Kirmatzis
Notes to editors:
ABOUT SEGRO
SEGRO is a UK Real Estate Investment Trust (REIT), listed on the
London Stock Exchange and Euronext Paris, and is a leading owner,
manager and developer of modern warehouses and industrial property.
It owns or manages 8.1 million square metres of space (88 million
square feet) valued at GBP13.3 billion serving customers from a
wide range of industry sectors. Its properties are located in and
around major cities and at key transportation hubs in the UK and in
seven other European countries.
For over 100 years SEGRO has been creating the space that
enables extraordinary things to happen. From modern big box
warehouses, used primarily for regional, national and international
distribution hubs, to urban warehousing located close to major
population centres and business districts, it provides high-quality
assets that allow its customers to thrive.
See www.SEGRO.com for further information.
View source version on businesswire.com:
https://www.businesswire.com/news/home/20210114005947/en/
CONTACT:
Segro PLC
SOURCE: Segro PLC
Copyright Business Wire 2021
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