Business
Asset Management Update
Picton Property Income Limited has completed seven lettings totalling £0.8 million in annual rental income, achieving rents 2% above the December 2025 ERV, with 92% of these in the office sector. The company currently has a pipeline of seven further lettings, worth £1.2 million annually, at rents 1% above ERV, also predominantly in the office sector. Refurbishment works are underway at two industrial assets, Radlett and Rushden, with ongoing discussions with potential occupiers. Disclaimer*
About this update from Picton Property Income Limited
[{"type":"text","content":"\n\n17 March 2026\n \nPICTON PROPERTY INCOME LIMITED\n('Picton' or the 'Company')\n \nAsset Management Update\n \n \nPicton provides an asset management update in respect of portfolio and leasing activity.\n \nMichael Morris, Chief Executive of Picton, commented:\n \n\"We are capturing a positive leasing pipeline and are particularly encouraged by the progress made within our office portfolio. This reflects the upgrading works we have undertaken to improve our buildings to meet occupier demand and drive positive rental growth.\n \n\"We have supported occupiers expanding and welcomed new occupiers to our assets. We have a good breadth of demand across all areas of the portfolio, from a range of occupiers in the financial, logistics, technology and professional services sectors\".\n \n \nIn the NAV and Trading Update issued on 29 January 2026 Picton reported a pipeline of 11 lettings with terms agreed, subject to contract, totalling an annual rental income of £1.6 million. The Company can confirm that seven lettings have now completed, totalling £0.8 million of annual rental income, at an average rent that was 2% ahead of December 2025 ERV. Overall, 92% of the lettings were in the office sector.\n \nThere is a current pipeline of seven lettings where terms are agreed, subject to contract, totalling an annual rental income of £1.2 million at an average rent that is 1% above December 2025 ERV. 74% of these transactions are in the office sector.\n \nIn addition, refurbishment works are ongoing at two key industrial assets, which have been subject to recent vacancies and where discussions are ongoing with a number of interested occupiers: \n· Radlett - a planning application was submitted last month to extend the unit\n· Rushden - the space is now available to lease on a fitted basis\n \n \nFor further information:\n \nPicton\nKathy Thompson, Company Secretary\n020 7011 9988, [email protected]\n \nTavistock\nJames Verstringhe\n020 7920 3150, [email protected]\n \nAbout Picton\n \nEstablished in 2005, Picton is listed on the main market of the London Stock Exchange and is a constituent of a number of EPRA indices including the FTSE EPRA Nareit Global Index.\n&nb...