7th Nov 2013 11:05
LONDON (Alliance News) - Picton Property Income Limited Thursday said it has secured two new occupiers and GBP335,000 of annual rental income following lettings within its regional portfolio.
The property investment firm said the two lettings represent nearly 50% of the transaction pipeline referred to in the October net asset value update of over GBP0.75 million per annum.
In a regional portfolio update, the company said it has signed a 10 year lease at its site in Colchester Business Park with health and social care company Provide. The letting, at Building 900, is for the entire headquarters office building, generating an annual rental income of GBP200,000.
In a separate transaction, Picton said it has entered into an agreement to let Unit 3 at Parc Tawe North Retail Park in Swansea to gym firm Xercise4less for a 15 year term, generating an annual rental income of GBP155,000.
Parc Tawe is an 117,000 sq ft open retail park comprising of eight units. Current occupiers include retailers Homebase, JD Sports, Pets At Home and Lidl.
The stock was trading at unchanged at 53.00 pence Thursday morning.
By Anthony Tshibangu; [email protected]; @AnthonyAllNews
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