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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Ing Uk | LSE:IRET | London | Ordinary Share | GB00B0LCW208 | ORD NPV |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 52.50 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMPCTN
RNS Number : 5354X
Picton Property Income Limited
01 September 2015
1 September 2015
PICTON PROPERTY INCOME LIMITED
("Picton" or the "Company")
PICTON MAKES REGIONAL OFFICE ACQUISITION
Picton (LSE: PCTN), the property investment company, has acquired 180 West George Street, a multi-let office investment in Glasgow for GBP14.25 million, reflecting a net initial yield of 7.8%.
Constructed in 2000, the property provides 52,100 sq ft of office accommodation over basement, ground and six upper floors and is located on a prime street in the heart of Glasgow's central business district. It is fully let and produces a net rental annual income of GBP1.18 million, equivalent to an average rent of under GBP23 per sq ft.
Occupiers include TSB Bank, Standard Life and Michael Page and the weighted average unexpired lease term is 2.4 years.
Michael Morris, Chief Executive of Picton Capital Limited, commented:
"This is our third income accretive acquisition in as many months and combined we have now invested over GBP51 million with a blended yield of 7.7% and an average income maturity profile of over six years. "
ENDS
For further information:
Tavistock
Jeremy Carey/James Verstringhe, 020 7920 3150, jverstringhe@tavistock.co.uk
Picton Capital Limited
Michael Morris, 020 7011 9980, michael.morris@picton.co.uk
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, team_picton@ntrs.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 GBP382.6 million at 30 June 2015, 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. www.picton.co.uk
This information is provided by RNS
The company news service from the London Stock Exchange
END
ACQEAKPPADFSEFF
(END) Dow Jones Newswires
September 01, 2015 02:03 ET (06:03 GMT)
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