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Merlin Expects the Coronavirus to have an Impact of Less than 10% on its Gross Rents in 2020

The company highlights that it is in a "solid" financial position to face these "difficult" times, with a low level of indebtedness, significant income diversification and very high occupancy rates.

Cuatro torres Fuente Merlin 1
Cuatro Torres in Madrid. The PwC Building (third in from the left) is owned by Merlin Properties.

Merlin Properties predicts that the uncertainty generated by the coronavirus crisis will have an impact of less than 10% on its total expected gross income for 2020, as reported by the firm to the National Securities Market Commission (CNMV) on Thursday.

“Considering our commercial policy regarding rental discounts, which aims to share the burden of the current difficult situation with our tenants in those premises and businesses that cannot open to the public, and assuming that the closure ordered by the authorities lasts until 31 July, the impact on total expected gross income for 2020 would be less than 10%”, explained the firm, which has made a first estimate of the quantitative impact of coronavirus on its results, as reported by Europa Press.

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