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British Land receives less than half of rents due from retailers in December-quarter

Reuters
People walk along Oxford Street as shops remain closed under Tier 4 restrictions, amid the coronavirus disease (COVID-19) outbreak, in London

(Reuters) - Real estate firm British Land said on Monday it had received less than half of the rent its retailers owed during the holiday quarter as stricter COVID-19 restrictions aggravated conditions in Britain's high streets.

British Land had collected only 46% of December-quarter rent as of Jan. 7, as per the company's statement, compared with the 72% it reported for the previous quarter. Total rent collection, which includes offices, stood at 71%.

(Reporting by Priyanshi Mandhan in Bengaluru; Editing by Krishna Chandra Eluri)