Modern Slavery Statement

This statement is made on behalf of Picton Property Income Limited and its subsidiaries (‘Picton’, or the ‘Group’), pursuant to Section 54 of the Modern Slavery Act 2015 (the ‘Act’) and constitutes Picton’s modern slavery and human trafficking statement for the year ended 31 March 2020.

Picton is a UK Real Estate Investment Trust established in 2005. It owns and actively manages a diversified portfolio of UK commercial property, comprising 47 assets and with around 350 occupiers. Picton is listed on the main market of the London Stock Exchange. For the year ended 31 March 2020 Picton had revenue of £46 million and employed an average of ten people.

We have in place a framework for conducting business across the Group, in a way that makes a positive contribution to society, whilst minimising any negative impact on people and the environment.

Picton’s supply chain consists of suppliers directly and indirectly engaged to manage the properties owned by the Group and professional services providers. All of these suppliers are engaged in the UK and the Channel Islands, and as such the risk of exposure to modern slavery is considered to be low.

Our commitment

Picton is fundamentally committed to ensuring that there is no slavery or human trafficking in our supply chains or in any part of our business. We expect high level of standards within our business and similarly from our suppliers.

Our approach

Picton is committed to taking appropriate steps to ensure slavery or human trafficking does not take place through
our supply chains. We work with suppliers who share our commitment to these values. We have drawn up a Supplier Code of Conduct, which sets out the social, ethical and environmental considerations that we expect our suppliers to adhere to. This year we have commenced the roll out of the Code to our principal suppliers.

We have a number of policies and procedures in place that promote a culture in line with the objectives of the Act.

These are set out in our Employee Handbook, and include:

  • Whistleblowing
  • Equal opportunities and diversity
  • Harassment and bullying
  • Gifts, inducements and entertaining
  • Anti money laundering
  • Discipline and grievances
  • Personal account dealing
  • Health and safety
  • Privacy

Picton will not purchase goods or services from any organisation that is found to be engaging in human trafficking or assisting slave labour.

Picton has an occupier focused approach to management of its portfolio, and aims to develop close relationships
with its occupiers. We have clauses in our standard leases that prohibit any activities that do not comply with statutory requirements, including the Act.

Our Responsibility Committee reviews and monitors compliance with all relevant legislation and makes recommendations regarding our responsible conduct of business.

This statement was approved by the Board on 23 September 2020.

Michael Morris
Chief Executive
23 September 2020