PICTON PROPERTY INCOME LTD - Picton Acquisition

PR Newswire

3 February 2015

                        PICTON PROPERTY INCOME LIMITED
                          ("Picton" or the "Company")

           PICTON ADDS TO HOLDING AT ANGOULEME WAY RETAIL PARK, BURY

Picton, the property investment company, has completed the acquisition of the
long leasehold interest in two retail warehouse units located immediately
adjacent to its existing holding at Angouleme Way Retail Park, Bury. The £3.9
million purchase price reflects a net initial yield of 7.9%.

The 96-year leasehold interest comprises two units totalling 29,609 sq ft which
are currently let to Argos and Poundstretcher for a further four years and
generate a combined net income of £323,750 pa. The two units are located
directly opposite the A58 arterial road and The Rock shopping and leisure
scheme.

Michael Morris, Chief Executive, commented: "This is the first acquisition to
complete, of several we have under consideration, since our recent fundraising.
It also marks the consolidation of our ownership in Bury, where we now control
all five units and expect to unlock further value through asset management
initiatives."

                                     ENDS

For further information:

Tavistock Communications
Jeremy Carey/James Verstringhe, 020 7920 3150, jverstringhe@tavistock.co.uk

Picton Capital Limited
Michael Morris, 020 7011 9980, michael.morris@pictoncapital.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 £315.7 million at 31 December 2014 and approximately 870
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.www.pictonproperty.co.uk