RDI rent collection picks up as lockdowns ease
London and JSE-listed landlord RDI, which has been selling off its assets in Germany to focus on the UK, says rent collection is improving as Covid-19 lockdowns ease in countries in which it operates.
RDI, which had a portfolio valued at £1.3bn (R27.7bn) at the end of February, said on Monday it collected about 70.1% of rent for its June quarter, from 50.4% in March. These figures take into account tenants that pay monthly, rather than quarterly.
Negotiations with occupiers and clients were continuing and collection rates are expected to improve or, in some cases, result in new agreements, the group said.
“While near-term visibility remains low, recent trading following an easing of government restrictions has been encouraging and portfolio occupancy remains high,” said RDI CEO Mike Watters.
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