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.
01 Oct 2021
Picton Property Income - Accretive industrial acquisition
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Picton Property Income - Accretive industrial acquisition
Picton Property Income Limited (PCTN:LON) | 80.6 0.1 0.1% | Mkt Cap: 420.2m
- Published:
01 Oct 2021 -
Author:
Martyn King -
Pages:
3 -
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.