Picton Property Income Limited Asset Disposal

RNS Number : 8709K

Picton Property Income Limited

17 April 2024

 

17 April 2024

 

PICTON PROPERTY INCOME LIMITED

 ('Picton' or the 'Company')

LEI: 213800RYE59K9CKR4497

 

Asset Disposal - Completion

 

 

Further to the announcement dated 2 April 2024, Picton confirms completion of the disposal of its second largest office asset at Angel Gate, London EC1. The consideration of £29.6 million represents a 5% premium to the 31 December 2023 independent valuation.

A proportion of the proceeds will now be used to fully repay the £16.4 million outstanding balance on the Company's revolving credit facility, with the remainder available for appropriate future investment opportunities.

For further information:

Picton

Michael Morris, Chief Executive

020 7011 9980, [e-mail]

 

Tavistock

James Verstringhe

020 7920 3150, [e-mail]

 

About Picton

Picton, established in 2005, is a UK REIT. It owns and actively manages a £745 million diversified UK commercial property portfolio, invested across 49 assets and with around 400 occupiers (as of 31 December 2023).

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

 

ENDS

 

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