2005

  • The Company was successfully launched as ING UK Real Estate Income Trust Limited on the London Stock Exchange

2006

  • Strong commercial property market returns, with falling yields
  • Increase in the Company’s property assets, including a £125 million portfolio purchase
  • Disposal of a portfolio of public houses, including the General Picton, to a pub operating company, at a significant profit

2007

  • The US sub-prime mortgage crisis starts
  • UK commercial property capital values correct sharply in latter half of year

2008

  • Peak of financial crisis
  • Unprecedented decline in asset values including commercial property
  • The Company disposed of a number of assets to facilitate debt repayment

2009

  • Restructuring of the Company’s securitised debt successfully completed with further asset sales
  • Recession in the UK finally ended

2010

  • Acquisition of Rugby Estates Investment Trust plc by the Company
  • Improvement in asset values
  • Decision taken to internalise the Company’s management

2011

  • Name changed to Picton Property Income Limited
  • Picton Capital Limited created
  • UK economy weakens and re-enters recession

2012

  • Internalisation is effective from 1 January, with significant saving in costs
  • Company’s debt facilities re-financed
  • Introduction of covered dividend policy

2013

  • Share price moved to a premium to net asset value
  • New equity raised to fund property acquisitions
  • Capital values stabilised

2014

  • Placing Programme initiated to raise £100 million of new equity
  • Recovery in UK economy continues
  • Increase in Company’s market capitalisation to over £300 million
  • £81 million of new property assets acquired

2015

  • Increase in quarterly dividend
  • Highest reported profit and total return since 2006
  • New revolving credit facility established
  • New website launched and branding refreshed

2016

  • Won Money Observer award – Best Large Trust
  • Established further revolving credit facility
  • Repaid zero dividend preferences
  • Announced further dividend increase
  • Won Investment Company of the year award (Property)

2017

  • Won Money Observer Trust Awards - Best Property Trust UK
  • 5th anniversary since internalisation of investment manager
  • Outperformed MSCI IPD Quarterly Benchmark over 1,3, 5 and 10 years
  • Extended revolving credit facilities
  • UK begins negotiations to exit the EU