Large-format retail landlord BWP Trust received 99 per cent of rent payments and maintained almost full occupancy across its portfolio during the pandemic as it benefited from the strong performance of its major tenant, Bunnings, according to full-year results released on Monday.

The trust, which owns 75 retail warehouses worth $2.6 billion, managed a 1 per cent rise in distributable profit to $117.1 million over the year to June 30 — a result which showed the resilience of the large-format sector as other mall landlords battle rising vacancies and mounting rent relief requests exacerbated by the stage four Melbourne shutdown.