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Picton Property Income Limited confirmed on 17 April 2024 the completion of the disposal of its Angel Gate, London EC1 office asset. The transaction yielded a consideration of £29.6 million, representing a 5% premium to the asset's 31 December 2023 independent valuation. A proportion of these proceeds will be used to fully repay the £16.4 million outstanding balance on the company's revolving credit facility.
| Date | 17 Apr 2024 |
| Time | 07:00:06 |
| Category | Disposals |
| ID | 8709K |
17 April 2024
PICTON PROPERTY INCOME LIMITED
('Picton' or the 'Company')
LEI: 213800RYE59K9CKR4497
Asset Disposal - Completion
Further to the announcement dated 2 April 2024, Picton confirms completion of the disposal of its second largest office asset at Angel Gate, London EC1. The consideration of £29.6 million represents a 5% premium to the 31 December 2023 independent valuation.
A proportion of the proceeds will now be used to fully repay the £16.4 million outstanding balance on the Company's revolving credit facility, with the remainder available for appropriate future investment opportunities.
For further information:
Picton
Michael Morris, Chief Executive
020 7011 9980, [email protected]
Tavistock
James Verstringhe
020 7920 3150, [email protected]
About Picton
Picton, established in 2005, is a UK REIT. It owns and actively manages a £745 million diversified UK commercial property portfolio, invested across 49 assets and with around 400 occupiers (as of 31 December 2023).
Through an occupier focused, opportunity led approach to asset management, Picton aims to be one of the consistently best performing diversified UK focused property companies listed on the main market of the London Stock Exchange.
For more information please visit: www.picton.co.uk
ENDS