Picton Property Income - Accretive industrial acquisition
Picton Property Income has acquired a multi-let industrial estate for £13.1m, increasing its strong weighting to this well-performing sector. Funded using its previously undrawn low-cost £50m revolving credit facility, the acquisition will be clearly accretive. The existing portfolio contains strong reversionary potential to drive income growth and Picton has continuing financial flexibility for further accretive acquisitions.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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