14 November 2014
PICTON PROPERTY INCOME LIMITED
("Picton" or the "Company")
PICTON FILLS LARGEST VOID WITH 24,000 SQ FT LETTING AT CITYLINK, CROYDON
Picton, the Property Investment Company,announces that it has let 24,000 sq ft
of office space at Citylink in East Croydon, South London to education
BPP will occupy the whole of the west side of the building on a ten year lease
at an annual rent of £0.52 million, which is in line with ERV. On completion of
this letting, Citylink will be 90% occupied, leaving one small ground floor
suite of 4,845 sq ft available. The other major occupier is RBS.
The newly refurbished Grade A office building is situated directly opposite East
Croydon station, which provides fast and frequent services into Central London
and Gatwick Airport.
This letting will fill the largest void in the Company´s portfolio,
improving overall occupancy to more than 95%, and follows a substantial
refurbishment of the building which completed at the end of last month.
Michael Morris, Chief Executive of Picton commented:
"This letting marks the completion of a significant asset management
initiative for Picton, filling the portfolio´s largest void. The success of
the letting depended on us working closely with BPP in respect of their
educational user requirements and this transaction demonstrates our continuing
ability to meet occupier needs and in particular to deliver tailored, high
quality office spacewithin a short timeframe."
For further information:
Jeremy Carey/James Verstringhe, 020 7920 3150, email@example.com
Picton Capital Limited
Michael Morris, 020 7011 9980, firstname.lastname@example.org
The Company Secretary
Northern Trust International Fund Administration Services (Guernsey) Limited
St Peter Port
David Sauvarin, 01481 745001, email@example.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 £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.