SA’s largest property company says it only took in 47% of retail rent in April, when it provided almost R100m in rental relief to tenants
Growthpoint Properties' headquarters in Sandton. Picture: FINANCIAL MAIL
The group, which owns half of the V&A Waterfront, collected 71% of its total rent in April across its portfolio, which declined slightly to 70% in May, largely due to a fall-off in collections from tenants in its industrial and healthcare divisions, according to an investor presentation on the group Growthpoint’s website.
The group has provided R99.2m in rental relief in April, and R100.2m in May — about 10% of total billing due for those months.
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