Picton Property Income Ltd (PCTN)

Sector:

Real Estate

Index:

FTSE Small Cap

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88.90p
   
  • Change Today:
      1.20p
  • 52 Week High: 93.40
  • 52 Week Low: 79.40
  • Currency: UK Pounds
  • Shares Issued: 540.05m
  • Volume: 624,026
  • Market Cap: £480.11m

Picton secures first new tenant at Farringdon Road

By Josh White

Date: Tuesday 10 Jan 2017

LONDON (ShareCast) - (ShareCast News) - Property investment company Picton announced on Tuesday that it has secured its first new occupier at 50 Farringdon Road in Clerkenwell, EC1.
The London-listed firm said it has let 7,800 sq ft of office space to the leading multidisciplinary engineering contractor Volker Wessels.

They will occupy the larger wing of the first floor on a ten year lease, subject to break, at an annual rent of £0.42m, in line with ERV.

The second floor and one small suite on the first floor remain available to let, and Picton's board said there is good interest.

It described the property as being a short walk from Farringdon station, and with Crossrail due to open in 2019, it added that the connectivity of the location will further improve.

Picton said it has implemented a strategy to meet occupational demand by subdividing the space whilst retaining the previous high quality fit out, saving significant capital expenditure.

On a pro rata basis the new rent is over 60% higher than the previous rent.

"This letting confirms our strategy to provide a 'plug and play' solution is attractive to occupiers," said chief executive Michael Morris.

"It is also encouraging that we have good interest in the remaining space."

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PCTN Market Data

Currency UK Pounds
Share Price 88.90p
Change Today 1.20p
% Change 1.37 %
52 Week High 93.40
52 Week Low 79.40
Volume 624,026
Shares Issued 540.05m
Market Cap £480.11m

PCTN Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
6.70% above the market average6.70% above the market average6.70% above the market average6.70% above the market average6.70% above the market average
48.39% below the sector average48.39% below the sector average48.39% below the sector average48.39% below the sector average48.39% below the sector average
Price Trend
60.27% above the market average60.27% above the market average60.27% above the market average60.27% above the market average60.27% above the market average
61.90% above the sector average61.90% above the sector average61.90% above the sector average61.90% above the sector average61.90% above the sector average
Income
61.74% above the market average61.74% above the market average61.74% above the market average61.74% above the market average61.74% above the market average
30.43% above the sector average30.43% above the sector average30.43% above the sector average30.43% above the sector average30.43% above the sector average
Growth
29.86% below the market average29.86% below the market average29.86% below the market average29.86% below the market average29.86% below the market average
29.03% below the sector average29.03% below the sector average29.03% below the sector average29.03% below the sector average29.03% below the sector average

What The Brokers Say

Strong Buy 1
Buy 0
Neutral 0
Sell 0
Strong Sell 0
Total 1
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

PCTN Dividends

  Latest Previous
  Q3 Q2
Ex-Div 31-Jan-19 15-Nov-18
Paid 28-Feb-19 30-Nov-18
Amount 0.88p 0.88p

Trades for 15-Feb-2019

Time Volume / Share Price
16:35 72,309 @ 88.90p
16:27 5,000 @ 88.70p
16:27 8,350 @ 88.56p
16:26 12,200 @ 88.22p
16:21 512 @ 88.70p

PCTN Key Personnel

Chair Nicholas Thompson
Finance Director Andrew Dewhirst

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