London, September 8
9 September 2014 PICTON PROPERTY INCOME LIMITED ("Picton" or the "Company") PICTON ACQUIRES PETERBOROUGH RETAIL ASSET Picton, the income focused property investment company, has completed the acquisition of a freehold city centre retail property in Peterborough, Cambridgeshire for £9.075 million, reflecting a net initial yield of 6.5%. The property, which totals 89,000 sq ft., comprises two prime high street retail units, with significant frontage to the pedestrianised Bridge Street, let to TK Maxx and New Look until 2020 and 2021 respectively. It produces an annual rent of £625,000 reflecting a low average overall rent of £7.00 per sq ft., which is subject to review in 2015 and 2016. The Company has now made over £81 million of acquisitions during the course of this year and this purchase fully utilises the remainder of the funds allocated for acquisitions raised during the £35 million Initial Placing in May of this year. Michael Morris, Chief Executive, commented: "We were attracted to this asset due to a combination of factors, including the strong population growth within Peterborough, the property´s core location, the flexibility of the units and the low overall rental levels which are subject to review over the next couple of years. This is yet another acquisition in line with our strategy of buying assets with a strong correlation to their cost of construction and illustrative of our continuing ability to find suitable opportunities that meet our investment objective." ENDS For further information: Tavistock Communications Jeremy Carey/James Verstringhe, 020 7920 3150, email@example.com Picton Capital Limited Michael Morris, 020 7011 9980, firstname.lastname@example.org The Company Secretary Northern Trust International Fund Administration Services (Guernsey) Limited Trafalgar Court Les Banques St Peter Port Guernsey GY1 3QL David Sauvarin, 01481 745001, email@example.com Note to Editors Picton Property Income Limited (´Picton´) is an income focused, property investment company listed on the London Stock Exchange. Picton can invest both directly and indirectly in commercial property across the United Kingdom. With Net Assets of £258.9 million at 30 June 2014 and approximately 870 investors, the Company´s objective is to provide shareholders with an attractive level of income, together with the potential for capital growth by investing in the principal commercial property sectors.