PICTON PROPERTY INCOME LTD - Picton Acquires Long Let Retail Park in Gloucester

PR Newswire

6 March 2015

                        PICTON PROPERTY INCOME LIMITED

                          ("Picton" or the "Company")

              PICTON ACQUIRES LONG LET RETAIL PARK IN GLOUCESTER

Picton, the property investment company,has acquired Gloucester Retail Park for
£14.65 million, reflecting a net initial yield of 6.9%.

The retail park is prominently located on Eastern Avenue and comprises four
units totalling 112,000 sq ft. It is in a recognised Retail Warehouse location
and is leased to leading discount retailers: B&M Bargains, Carpetright, The
Range and AHF.

It producesa diversified annual income of £1.067 million with an average
weighted lease length of 13.2 years at a low average rent of under £9.60 per sq
ft. which reflectsrecent letting activity.

Michael Morris, Chief Executive, commented: "Since the start of the year we
have deployed £19.5 million using proceeds from our Placing Programme.We think
this is an attractive entry point, recognising the income longevity and low
overall rent, and believe there are a number of asset management opportunities
which should enhance income and value during our ownership."

                                     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