Rent collection for the second quarter of this year has also increased steadily and now stands at 93% (with 84% already paid, 4% on monthly collection and 5% on agreed payment plans).

In recent weeks, the company has also signed six new lease agreements providing total headline rent in excess of £1.1m.

Stephen Inglis, CEO of London & Scottish, said: “Our highly diversified portfolio of 151 properties continues to demonstrate its resilience, and Q1 and Q2 rent collection at 98% and 93% respectively, demonstrates the effectiveness of our unique management platform.

“Furthermore, our strong pipeline of new lease agreements indicates that demand for core office and industrial properties is currently outstripping supply. We are also seeing evidence of major organisations moving to a hub-and-spoke model, with a large city centre presence supported by smaller regional offices. We expect this trend to increase demand for regional office space.

“Despite this, at a sector level, property portfolio valuations are still adjusted down. In the office and industrial sectors, we believe this to be based on sentiment rather than transactional evidence. Therefore, having maintained sector-leading income performance though a difficult Q1 and Q2, we are increasingly confident that valuations will improve in the longer term as we return to a more normal investment environment.”