The leisure sector has seen rent payments increase significantly in the two months since March quarter day, with levels up from 18% to 37%, according to new data from Colliers.

The retail sector also saw a significant increase with levels up from 35% to 85%.

The property agent said the restaurant sector had seen a record +2 month rent collections since June last year, exceeding rent levels collected during last summer’s Eat Out to Help Out Scheme, with 30% of rent collected two months on from the March quarter day.

High street and out of town retail rent collection levels have been boosted in the two months, from 25 March, rising from 25% to 87% for high street and 44% to 78% for out of town.

Mark Jarrett, head of property management at Colliers, commented: “The increase in rent payments from leisure and retail businesses demonstrates the significant impact that the lifting of restrictions can have on operators.

“Our rent collection figures have painted a picture of the impact of Covid-19 on commercial property over the last year and I am glad to see that collection levels and sentiment have both started to improve. The coming quarter day on June 24 will complete the picture and hopefully show that the resilience and optimism felt today is reflected in financial performance.”

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