14th Nov 2014 09:41
LONDON (Alliance News) - Picton Property Income Ltd Friday said it has let 24,000 square feet of office space at Citylink in East Croydon, South London to education provider BPP Holdings Ltd, in a move to fill the largest void in its portfolio.
In a statement, the property investment company said BPP will occupy the whole of the west side of the building on a ten year lease at an annual rent of GBP520,000.
The letting mean Citylink will be 90% occupied, leaving a ground floor suite of 4,845 square feet available. The other major occupier is The Royal Bank of Scotland Group PLC.
"This letting marks the completion of a significant asset management initiative for Picton, filling the portfolio's largest void. The success of the letting depended on us working closely with BPP in respect of their educational user requirements and this transaction demonstrates our continuing ability to meet occupier needs and in particular to deliver tailored, high quality office space within a short timeframe," Michael Morris, chief executive, said in a statement.
Picton shares were down 0.2% at 64.63 pence.
By Samuel Agini; [email protected]; @samuelagini
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