31 October 2025
PICTON PROPERTY INCOME LIMITED
('Picton' or the 'Company')
Asset Management Update
Picton provides an update on one of its logistics assets in Rushden, Northamptonshire.
The occupier of Rushden 300, a 315,000 sq ft distribution warehouse located close to the M1, A1 and A14, exercised a break option effective October 2025. In accordance with the lease terms, the occupier has paid £2.5 million, comprising a £0.8 million break penalty (equivalent to six months' rent) and £1.7 million in dilapidations.
The break penalty will mitigate any short-term loss of income, while the dilapidations receipt will enable the Company to upgrade the building ahead of re-letting.
The property generated an annual rent of £1.6 million, equivalent to 3.4% of the portfolio's contracted rent as at 31 March 2025. At 30 September 2025 this represented the largest single reversionary opportunity within the portfolio, with an estimated rental value more than 50% above the passing rent. The independent valuation had anticipated the lease break and, therefore, no adverse valuation impact was recorded at 30 September 2025 relative to 31 March 2025.
Further detail will be provided alongside the interim results, which will be published on 12 November 2025.
For further information:
Picton
Kathy Thompson, Company Secretary
020 7011 9988, [email protected]
About Picton
Established 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.
Picton owns and actively manages a £726 million UK commercial property portfolio, invested across 47 assets and with around 350 occupiers (as at 30 June 2025).
Through an occupier focused, opportunity led approach, Picton aims to be the consistently best performing diversified UK REIT and has delivered upper quartile outperformance and a consistently higher income return than the MSCI UK Quarterly Property Index since launch.
With a portfolio strategically positioned to capture income and capital growth, currently weighted towards the industrial sector, Picton's agile business model provides flexibility to adapt to evolving market trends over the long-term.
Picton has a responsible approach to business and is committed to being net zero carbon by 2040.
For more information please visit: www.picton.co.uk
LEI: 213800RYE59K9CKR4497
ENDS
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