London, March 19
20 March 2020
PICTON PROPERTY INCOME LIMITED
(“Picton”, the “Company” or the “Group”)
Picton completes trio of lettings
Picton today issues an update on the portfolio following the completion of a series of office leases, which add a total of £0.9 million of annual income to the headline rent roll. The transactions follow the completion of recent refurbishment works.
The Company will provide a trading update in April 2020.
Michael Morris, Chief Executive of Picton, commented:
“To have recently concluded three significant long-term leases following our refurbishment of these spaces is encouraging.
Our immediate priority is ensuring the health and safety of our occupiers, employees and other partners, as we seek to minimise the impact of the COVID-19 virus. We are continuing to work with our occupiers to help them navigate these uncertain times.
We have a strong balance sheet with primarily long-dated debt, a low LTV of 22% and access to more than £41 million of funding in two undrawn debt facilities.”
For further information:
Jeremy Carey/James Verstringhe, 020 7920 3150, firstname.lastname@example.org
Michael Morris, 020 7011 9980, email@example.com
Note to Editors
Picton, established in 2005, is a UK REIT. It owns and actively manages a £685 million diversified UK commercial property portfolio, invested across 48 assets and with around 350 occupiers (as at 31 December 2019). Through an occupier focused, opportunity led approach to asset management, Picton aims to be one of the consistently best performing diversified UK focused property companies listed on the main market of the London Stock Exchange.
For more information please visit: www.picton.co.uk