October 7, 2020
Fiera Real Estate UK Limited (“FRE UK”) is pleased to announce that it has achieved an effective rent collection rate of 93% seven days post the September quarter-date. This follows 94% and 97% of rent collected since the March and June quarter-dates respectively.
FRE UK has continued to work closely with tenants since the onset of Covid-19 in March this year. This collaborative approach, coupled with tactical overweight positions to the more resilient sectors in the market, has helped drive impressive rental collection statistics over the period relative to a market average of 79% and 73% for the March and June quarter-dates (Remit Consulting based on 125,000 tenancies).
FRE UK’s rental portfolio has overweight positions to industrial and food retail with a low exposure to operational assets, high street retail and shopping centres, all of which have felt the brunt of recent government legislation protecting tenants in the event of non-payment of rent.
Rupert Sheldon, Head of Core REIM at FRE UK said:
“These market beating rental collection statistics reinforce the importance of a strong top-down sector led strategy and bear testament to the work our wider team has invested in customer care and relationship building across our portfolio of tenants, not just since March, but consistently over the past five years. During a phase of the market where income constitutes more than 100% of total returns, this tactile approach is continuing to (quite literally) pay dividends for our investors”.