Governance
Financial Statements
Additional Information
Strategic Report
Non-financial KPIs Retention rate (%) 76%
EPC rating A-C (%) 80%
Employee satisfaction (%) 86%
2024 2023 2022
2024 2023 2022
2024 2023 2022
76
80
86
67
76
82 82
37
71
Why we use this indicator This provides a measure of income at risk and the retention of that income during the year. This is achieved through lease extensions or removal of break options.
Why we use this indicator Energy Performance Certificates (EPCs) indicate how energy efficient a building could be by assigning a rating from A (very efficient) to G (very inefficient). From 1 April 2023, Minimum Energy Efficiency Standards (MEES) regulations prohibited leasing space that is F or G rated, unless an exemption certificate applies. The minimum EPC rating is likely to be raised further, with the UK Government consulting on proposals to require a minimum of C by 1 April 2028, and B by 1 April 2030.
Why we use this indicator We use this indicator to assess our performance against one of our strategic objectives, to nurture a positive culture reflecting the values and alignment of the team. The indicator is based on the employee survey carried out during the year.
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Our performance in 2024 Our significantly higher retention rate reflects our proactive approach to asset management and engagement with our occupiers. Total ERV at risk due to lease expiries or break options totalled £6.4 million, higher than last year. This excludes office buildings where we have kept space vacant for alternative uses.
Our performance in 2024 The proportion of EPC ratings between A–C has increased against the prior year and makes up 80% of the portfolio. The remaining 20% is rated D or E.
Our performance in 2024 Our employee satisfaction score has increased this year with very positive team sentiment.
Picton Property Income Limited / Annual Report 2024
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