Hibernia REIT reports healthy rent collection

Hibernia REIT has received 90% of rent owned for the September quarter from its commercial tenants. A further 7% of rent owed is on payment plans and will be paid either monthly or has been deferred, 0.5% has been waived, and 2.5% is still to be paid. In a market update, the firm said rent collection for the June and March quarters had also increased to 98% and 96% respectively by 8 October. Rent collection across Hibernia’s residential assets, which account for 10% of its portfolio, stood at 98% for the month and occupancy was at 95%. The Irish REIT also reported that it has to date repurchased 11.4m shares for €12.2m (£11.1m) under its €25m share buyback programme. The reflects an average purchase price of €1.07 per share. To send feedback, e-mail louise.dransfield@egi.co.uk or tweet @DransfieldL or @estatesgazette