Shaftesbury reports loss as pandemic has “significant impact” on portfolio

West End landlord Shaftesbury has reported a loss after tax of £699.5m for the year to 30 September 2020 as the pandemic has a “significant impact” on the business. In the six months to the end of September, the group collected 53% of contracted rents, with 34% deferred or waived and 13% outstanding. Net property income was down 24.2% to £74.3m (2019: £98.0m), with a 3.5% like-for-like decline in rental income, and charges for expected credit losses and impairments of £21.9m.