Progress continues
Picton Property Income’s 25 July NAV update showed that asset management initiatives have continued to add value through a series of new and renewed leases, as well as two asset disposals at 37% above their March 2017 valuations. Like-for-like valuations in the office and industrial sectors, representing 75% of the portfolio, rose over 2% and earnings of £5.3m gave 1.16x dividend cover, also contributing to NAV gains. Management continues to execute the strategy of investing in and actively managing a regional property portfolio to provide rising income and increasing capital value.Picton Property Income is an internally managed property investment company which invests in commercial property throughout the U.K. As of Mar 31 2017, Co.'s property portfolio consisted of 53 assets and was invested in the industrial, office, retail, retail warehouse and leisure sectors.
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