December retail rent quarter shortfall exceeds £630m
The retail rent shortfall in the UK totalled £630.8m, in the four months to December, according to data published by Remit Consulting.
The report, published in conjunction with British Property Federation, RICS, Revo, Agent s Advisory Group, and other members of the Property Industry Alliance, analysed the collection of rent and service charge payments across around 125,000 leases across the country.
On 25 December, the rent collection due date for the final quarter of 2020, landlords had collected 48.5% of retail rents due which increased to 50.5% in the seven-days after the due date. This is below the overall average of commercial properties which saw 52.6% of rents collected on Christmas Day and 59.5% in the seven days after 25 December.