Residential & Foodstore Planning Success

13 October 2014 PICTON PROPERTY INCOME LIMITED ("Picton" or the "Company") RESIDENTIAL & FOODSTORE PLANNING SUCCESS Picton has secured the resolution to grant planning permission for thedevelopment of a retail and residential scheme at its six acre Westlea Campussite, Chelmsford Road, Swindon. This follows the submission of a planning application in April this year toconvert the former office scheme into a 15,000 sq ft foodstore and up to 70residential units. Picton exchanged contracts with Aldi earlier in the year to sell a 1.6 acreretail element of the site, subject to receipt of planning permission. Withthis resolution secured, the contract will now become unconditional once thes.106 agreement is finalised and the judicial review process is complete. In addition the remaining 4.4 acre site, which has outline residential planningconsent, will now be brought forward for disposal in the coming months. Michael Morris, Chief Executive of Picton Capital commented: "We are reallypleased to have achieved this approval within such a short period of time. Weare shortly in a position to realise the valuation upside from this assetmanagement initiative and will look to reinvest the proceeds into incomeproducing assets in due course." ENDS For further information: Tavistock CommunicationsJeremy Carey/James Verstringhe, 020 7920 3150, [email protected] Picton Capital LimitedMichael Morris, 020 7011 9980, [email protected] The Company SecretaryNorthern Trust International Fund Administration Services (Guernsey) LimitedTrafalgar CourtLes BanquesSt Peter PortGuernseyGY1 3QLDavid Sauvarin, 01481 745001, [email protected] Note to Editors Picton Property Income Limited ('Picton') is an income focused, propertyinvestment company listed on the London Stock Exchange. Picton can invest bothdirectly and indirectly in commercial property across the United Kingdom. With Net Assets of £258.9 million at 30 June 2014 and approximately 870investors, the Company's objective is to provide shareholders with anattractive level of income, together with the potential for capital growth byinvesting in the principal commercial property sectors.

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