UPDATE 2-British Land sees end to rent concessions as curbs ease [Reuters]
BRITISH LAND CO S/ADR (BTLCY)
NASDAQ:AMEX Investor Relations:
britishland.com/investors
Company Research
Source: Reuters
July 13 (Reuters) - UK commercial landlord British Land said on Tuesday it did not expect to grant further rent concessions to its tenants this quarter as the easing of coronavirus restrictions had boosted their trading. The firm, which counts London's Broadgate Circle and Sheffield's Meadowhall shopping centre in northern England among its assets, said it had seen a notable improvement in activity across its businesses after curbs were eased, adding that the valuations of its outperforming retail parks are expected to rise. British Land said 87 million pounds ($120.47 million) of rent was due for payment in the June quarter, with 85% collected to date. “Where appropriate, we have agreed pragmatic and equitable solutions for the periods of closure, which include monthly payments and concessions,” the company said. “However, with trading restrictions substantially lifted and the vast majority of our customers trading well and paying the rent due, we do not expect to make furth
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