London, October 10
13 October 2014 PICTON PROPERTY INCOME LIMITED ("Picton" or the "Company") RESIDENTIAL & FOODSTORE PLANNING SUCCESS Picton has secured the resolution to grant planning permission for the development of a retail and residential scheme at its six acre Westlea Campus site, Chelmsford Road, Swindon. This follows the submission of a planning application in April this year to convert the former office scheme into a 15,000 sq ft foodstore and up to 70 residential units. Picton exchanged contracts with Aldi earlier in the year to sell a 1.6 acre retail element of the site, subject to receipt of planning permission. With this resolution secured, the contract will now become unconditional once the s.106 agreement is finalised and the judicial review process is complete. In addition the remaining 4.4 acre site, which has outline residential planning consent, will now be brought forward for disposal in the coming months. Michael Morris, Chief Executive of Picton Capital commented: "We are really pleased to have achieved this approval within such a short period of time. We are shortly in a position to realise the valuation upside from this asset management initiative and will look to reinvest the proceeds into income producing assets in due course." 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.