Progress continues

Picton Property Income’s 25 July NAV update showed that asset management initiatives have continued to add value through a series of new and renewed leases, as well as two asset disposals at 37% above their March 2017 valuations. Like-for-like valuations in the office and industrial sectors, representing 75% of the portfolio, rose over 2% and earnings of £5.3m gave 1.16x dividend cover, also contributing to NAV gains. Management continues to execute the strategy of investing in and actively managing a regional property portfolio to provide rising income and increasing capital value.