Picton Property Income ( (GB:PCTN) ) has issued an announcement.
Picton Property Income Limited has completed the sale of a vacant office building in Cardiff for £8.37 million, which will be redeveloped into student accommodation. This transaction, part of a broader strategy to sell office assets with secured planning permission for residential or student use, allows Picton to improve portfolio occupancy, allocate capital for existing investments, repay debt, and initiate a share buyback program. The sale price reflects a 21% premium over the March 2024 valuation, highlighting the company’s ability to leverage planning processes for financial gain.
More about Picton Property Income
Established in 2005, Picton Property Income Limited is a UK-based real estate investment trust (REIT) listed on the London Stock Exchange. The company manages a diversified commercial property portfolio valued at £737 million, with 48 assets and around 350 occupiers as of December 2024. Picton focuses on an occupier-led approach to deliver consistent outperformance and income returns, with a strategic emphasis on the industrial sector. The company is committed to achieving net zero carbon by 2040.
YTD Price Performance: 18.71%
Average Trading Volume: 450
Technical Sentiment Signal: Strong Sell
Current Market Cap: $500.6M
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