(Reuters) – Land Securities (L:) has received only two-thirds of the rent due last month from its tenants and has cancelled its third interim dividend, the British property developer said on Thursday.
The company, which established a 80 million pounds ($99.17 million) rent relief fund, said 65% of rent due on March 25 was paid by the end of the month compared with 96% paid last year.
“During March, we saw a rapid drop off in visitor numbers to our retail and leisure destinations and many of our office customers invoked working from home protocols for their employees,” it said.
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