London, November 12
13th November 2014 PICTON PROPERTY INCOME LIMITED ("Picton" or the "Company") Picton disposes of two non-core assets Picton, the property investment company, announces the disposal of two non-core assets for a combined consideration of £3.28 million. The combined disposal price reflects a 6% premium to the September 2014 valuation and a 21% premium to the apportioned valuation when the assetswere purchased as part of Picton´s acquisition of Rugby REIT in 2010. In Middleton, Lancashire, it has exchanged contracts on Middleton Trade Park, a 24,000 sq ft multi-let industrial estate for £2.16 million. The sale follows considerable letting success which included the letting of six units to a range of occupiers including Screwfix. Completion will occur in January 2015 and Picton will retain the income until completion. In Brighton, Picton has disposed of its 2,780 sq ftholding in Bartholomew Square, for a combined consideration of £1.12 million.Having recently restructured the long leasehold with Brighton City Council, a small retail and restaurant unit at the site were disposed of in two transactions, both of which will complete following receipt of freeholder consent which is expected before the year end. In the meantime Picton will retain the income until completion. Michael Morris, Chief Executive of Picton Capital, added: "Both of these disposals follow considerable asset management success and continue our strategy of divesting of our smaller assets when attractive pricing is achieved." For further information: Tavistock Jeremy Carey/James Verstringhe, 020 7920 3150, email@example.com Picton Capital Limited Michael Morris, 020 7011 9980, firstname.lastname@example.org 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 £273.7 million at 30 September 2014 and approximately 850 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.