Landsec launches £80m rent relief support fund to help customers most in need

Land Securities Group (Landsec) has established a rent relief support fund of £80m to help its customers most in need, with a focus on SMEs and those in the food and beverage industry.

The commercial property development and investment company released a Covid-19 impact statement that explained the pandemic had caused a “huge shift” in the use of its buildings, including mass closures.

It also stated that, throughout this period of disruption, rent deferrals were being agreed with many retail and leisure occupiers.

Martin Greenslade, interim chief executive at Landsec, said: “These are unprecedented times and it is incumbent upon businesses, such as ours, to be mindful of the huge challenges faced by many of our stakeholders.

“That is why we have set up an £80m support fund to provide rent relief to those of our customers who are most in need of help.

“These actions reflect that we recognise that the long-term success of Landsec is reliant on our customers, employees and the communities in which we operate."

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