Picton Property Income has agreed the sale of Angel Gate, its second largest office asset, and largest portfolio void, with an agreed consideration above the Q323 valuation. The sale is part of its strategy to repurpose selective office assets and accretively recycle the capital. This sale supports NAV, and we expect a positive impact on earnings. Further repurposing asset management initiatives are being progressed.

09 Apr 2024
Picton Property Income - Accretive portfolio repositioning

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Picton Property Income - Accretive portfolio repositioning
Picton Property Income Limited (PCTN:LON) | 79.2 0 0.0% | Mkt Cap: 416.9m
- Published:
09 Apr 2024 -
Author:
Martyn King -
Pages:
2 -
Picton Property Income has agreed the sale of Angel Gate, its second largest office asset, and largest portfolio void, with an agreed consideration above the Q323 valuation. The sale is part of its strategy to repurpose selective office assets and accretively recycle the capital. This sale supports NAV, and we expect a positive impact on earnings. Further repurposing asset management initiatives are being progressed.