Picton Property Income Limited (GB:PCTN) has released an update.
Picton Property Income Limited has successfully completed the sale of its significant office property, Angel Gate in London, for £29.6 million, a figure that exceeds its late 2023 valuation by 5%. The company plans to use part of the sales proceeds to clear a £16.4 million debt from its revolving credit facility and allocate the rest for future investment opportunities. Established in 2005, Picton is a UK REIT with a diverse portfolio valued at £745 million, focusing on delivering top performance in the UK property market.
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