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Globalworth Real Estate Investments reported 'healthy' leasing activity for the first of the year, though occupancy fell amid a hit from a slowdown in Poland and Romania in the wake of the Covid-19 pandemic.
For the first six months of the year to 30 June, 115.5k sqm of commercial space was taken-up or extended at an average WALL (weighted average lease length) of 3.2 years.
Rate of collections for rents invoiced and due 'remained high' at 92.7% during the first half of 2020, the company said.
'The strong leasing momentum of the previous years in our markets of focus in Poland and Romania, came to a sudden slowdown in the last three months due to the Covid-19 pandemic, with several companies forced to re-assess their occupational plans (extensions, expansions, relocations, release of spaces etc), as well as the duration of the leases signed,' the company said.
Overall occupancy for its combined standing commercial portfolio fell to 93.3%, representing a 1.4% decrease over the past six months.
At 8:03am: (LON:GWI) Globalworth Real Estate Investments share price was 0p at 5.7p