Sirius posts strong rent collection across business parks

Sirius Real Estate, an investor in German business parks, has welcomed “strong” rent collection as it confirmed that it has now received 98% of money due over the past year. The company, which invoices tenants monthly in advance, also said it has received 97.7% of rent billed in the first nine months of its current April-December financial year, as well as 94.3% of rent due for January. Last year, the company wrote off just €205,000 of rent and service charge invoices out of a total of €141.2m (£124.9m), and set up 16 deferred payment plans with 43 tenants. Chief executive Andrew Coombs (pictured) said: “Since the outset of the pandemic, we have allocated increased platform resources and focus towards supporting our occupiers through the challenges they have faced. This active engagement has served us well, enabling us to demonstrate the additional value we can provide to our customers, while also ensuring that we have been able to maintain good cash collection levels.” To send feedback, e-mail tim.burke@egi.co.uk or tweet @_tim_burke or @estatesgazette