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Two months from March quarter day shows recovery in the retail and leisure sectors

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Two months on from March quarter day, total commercial property rent collection has jumped from 57% to 89% notes Colliers.


Both leisure and retail sectors have seen rent payments increase significantly in the two months since March quarter day. The retail sector saw levels rise from 38 per cent to 85 per cent, while the leisure sector increased from 18 per cent to 37 per cent. 

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.”

The firm shows that high street and out of town retail has been particularly boosted in the two months following March 25, rising from 25 per cent to 87 per cent for high street and 44 per cent to 78 per cent for out of town. High street and shopping centres have seen their highest +2 month collections recorded since the beginning of the pandemic. 

Considering leisure assets, the hotels sector has significantly improved rental collection levels, rising from 33 per cent to 63 per cent since the beginning of the March quarter and similarly achieving its highest +2 month collection rate since June last year.

The restaurant sector has also seen a record +2 month rent collections since June 2020, exceeding the rent levels collected during last summer’s Eat Out to Help Out scheme, with 30 per cent of rent collected two months on from the March quarter day. 

Colliers notes consistently strong performers industrial and offices saw levels rise from 68 per cent to 94 per cent, and 61 per cent to 93 per cent respectively, in the two months following March quarter day.

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Related Experts

Mark Jarrett

Head of Professional Services

London - West End

Mark joined Colliers International in 2001

Mark is Head of the Investment Property Management Department

Mark is Head of the Professional Services Division

Others:

Charles Church (residential developers) 1988-1990

Barnett Baker & Co 1990 - 1995

CBRE (formally St Quintin) 1996 - 2001

 

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Rebecca Allen

PR Manager

London - West End

I have been working in commercial property communications for over seven years having previously worked at CBRE and most recently Savills.

In my role at Colliers I am responsible for the PR of national capital markets, London agency and capital markets teams and investment property management.

My role includes:

  • Creating and exectuing PR plans for business lines that span press, marketing and digital channels
  • Media monitoring and reporting
  • Journalist relationship building through face to face meetings, phone calls day to day assistance with stories
  • Reputation management of the Colliers brand

 

 

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