Retailers struggled paying rent in September

This overall figure places rent collection up just one percent when compared to the last quarter day - despite the easing of all Covid-19 restrictions. Based on live rental collection from more than 10,000 properties and 35,000 leases on the firm’s UK platform, only 11% of rent was collected from retailers - down three percent when compared to the 14% figure recorded on the quarter rent day in June 2021.

Commenting on the news, Re-Leased chief executive Tom Wallace said: “Overall this will be a disappointing set of figures for landlords, showing clearly that we are far from ‘back to normal’. Despite the lifting of all coronavirus restrictions, businesses are still struggling, and the weight of 18 months of turbulence cannot be underestimated.

“With the furlough scheme coming to an end but the moratorium on evictions still in place, occupiers may be looking at how they can balance the books, and withholding rent could be the answer.”

Other sectors have however fared better, with industrial collections going up by four percent when compared to the June quarter - going from 19% to 23%.

Wallace added: “Whilst these results do not show the recovery bounce we would like to have seen, there is some cause for optimism as office workers settle back into the daily commute, and retail approaches its busiest period of the year in the run up to Christmas. In previous quarters we have seen rent collection climb rapidly week by week, and it may be that we see a delayed boost over the coming months.”