The huge online store boom has ensured that the rental collection remains stable for the warehouse giants Segro and Tritax Big Box.
The logistics landlords have managed to address the fear faced by real estate owners in other sectors, especially retail.
For the third quarter of 2020, which runs between July and September, real estate investor Segro has received approximately 93 percent of the £ 37 million rental.
Warehouse giants Segro and Tritax Big Box have managed to avoid the fear faced by property owners in other sectors – particularly retail – thanks to the online store boom
A group listed on the FTSE 100 said it had received 98 percent of the rent for the second quarter.
And smaller competitor Tritax Big Box expects 97 percent of rents to come through for the third quarter, after 96 percent of tenants’ cash paid for April to June was paid.
The relative stability of the warehouse groups contrasts sharply with the problems facing real estate investors in other industries.
Shopping center owners in particular are fighting to recover money from struggling tenants. However, the shareholders largely got rid of the optimistic news.
Segro fell 0.7 percent, or 6p, to 909p, while Tritax went up 0.7 percent, up 1p to 146.3p.
Stock Watch – Melody VR
Virtual reality entertainment group Melody VR will partner with the ticket sales giant Live Nation for a series of concerts from the O2 Academy in Brixton, London.
Fans can purchase tickets to the virtual performances through the Melody VR app or Ticketmaster and then plug in to watch them on their phones or VR headsets.
The partnership struck the chord with investors, with shares in AIM-listed Melody VR falling 11.1 percent, or 0.5 p, to 5 p.
Elsewhere in the logistics industry, Wincanton received a slight boost, from 0.6 percent or 1 pence to 182 pence, from getting a two-year extension to a contract with Asda.
Wincanton will manage warehouse and truck operations at all locations in Doncaster, Larne, Rochdale and Wigan. The couple have been working together since 2005.
The FTSE 100 closed lower, falling 0.6 percent or 33.74 points to 6,156.16, and the FTSE 250 fell 1 percent or 164.8 points to 17,185.24, despite Chancellor Rishi Sunak revealing a £ 30 billion spend which was meant to help the fragile economy.
Restaurants, brokers and home builders will all benefit from the final round of government commitments.
But the flagship policy, such as the holiday with stamps, was already widely reported, with the proportion of homebuilders earlier this week.
Persimmon rose 0.9 percent, or 21p, to 2433p, while Barratt Developments fell 1.2 percent, down 6.4p to 522p.
And pub stocks lost their buzz after the 5 percent VAT cuts weren’t reflected in alcohol, with Mitchells & Butlers falling 9.4 percent, or 16.2p, to 156p and Wetherspoon dropping 3.1 percent or 31.5p to 975.5p.
HSBC was pushed down 2.9 percent (11.5 pence) to 383.65 pence when US officials consider proposals that could limit the ability of Hong Kong banks to buy dollars.
Increases in coronavirus cases and simmering tensions between the U.S. and China spiked gold prices above $ 1,800 an ounce for the first time since 2011, as anxious investors flocked to safe haven metal.
Puretech grew tremendously after announcing a group in which it holds a 46 percent stake, Sonde Health, is launching an app to help people get back to work during the pandemic.
Through an analysis of the user’s voice, a Covid questionnaire and a measurement of body temperature, they can immediately see whether they are good enough.
A voice sample captures respiratory symptoms that, when combined with the other information, could occur if someone is ill.
Sonde’s technology is already being developed to recognize whether someone is depressed. Puretech rose 8.3 percent, or 22p, to 288p.
On AIM, Blackwood’s Gin and Redleg Spiced Rum maker Distil rose 9.1 percent, or 0.1 pence, to 1.2 pence, after forecast earnings rose 85 percent between April and September compared to last year .
Sales rose 21 percent between April and June, while the British drank at home during the shutdown.
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