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Real Estate Investment Trust Shaftesbury touted growth ahead as the impact of omicron was abating, boosting vacancy rates at a time when recent collections continued to improve.
At 31 December 2021,EPRA vacancy improved to 5.1% of portfolio estimated rent value, down 0.9% over the quarter; and further decreased to 4.9% by 2 February 2022.
The company said 88% of rent for the quarter to 31 December 2021 collected to date, with 10% outstanding and 2% waived. 'In January 2022, collection rates reflected the short-term trading and cash flow reduction suffered by some occupiers due to Omicron-related issues,' the company said.
'Collection rates will continue to improve as footfall and trading bounce back in the months ahead,' it added.