Governance
Financial Statements
Additional Information
Strategic Report
We also hold individual building occupier forums on sustainability to share ideas on waste removal and energy efficiency initiatives. We will continue to focus on growing the number of businesses sharing their energy data on Deepki. Furthermore, in the coming year we are seeking to collaborate with and provide support to occupiers wishing to enhance their health and wellbeing strategies. Occupier health and safety We are committed to making our buildings a healthy and safe environment for our occupiers and their visitors, our employees, contractors, and the public. We therefore ensure that they comply with the relevant health and safety legislation and guidelines. Health and safety is embedded within the management culture of our organisation. Our Health and Safety Committee meets every other month and reviews all aspects of health and safety across our portfolio and in our own office. The Committee reports directly to the Responsibility Committee and health and safety is a standing item on the Board’s agenda. Our health and safety record continued to be strong in 2023 with no reportable accidents, near misses or other health and safety incidents during the year. We were 98.3% compliant in all critical and 97.9% compliant in all secondary health and safety documentation.
During the year, we made the following progress in health and safety: / Our asset management team completed a training course in asbestos awareness provided by an accredited UKATA (UK Asbestos Training Association) member and compliant with Regulation 10 of the Control of Asbestos Regulations 2012 / Commenced a RAAC assessment across our portfolio which has not revealed any concerns or reasons to believe that RAAC is present / Commissioned a regulatory risk review by Willis Tower Watson (WTW) to follow up the review they did in 2021 / Reviewed health and safety measures as part of the property management audit undertaken by BDO LLP (BDO) / Completed a series of health and safety-related works across some of our buildings focusing on roof safety access equipment, fire suppression measures and fire door improvements / Focused on safety measures associated with electric vehicle charging points, ebikes and PV panels to ensure these are used safely at our buildings / We have made improvements to security and lighting at several industrial sites, including Parkbury Industrial Estate, Radlett and Nonsuch Industrial Estate, Epsom
In 2024, we plan to adopt the recommendations of the WTW review to further improve our robust approach to health and safety. We will ensure we also adopt the recommendations of the BDO review on how to improve the structure of reporting from our managing agents by focusing this on the big six health and safety issues: gas, fire, electricity, legionella, lifts and asbestos. We will continue to focus on PV, EV and ebike safety measures and engagement with our managing agents and occupiers on this. We will also aim to undertake more training, for example by receiving briefings on current health and safety topics from our managing agents’ health and safety experts. We have noted the increased focus of the Health and Safety Executive (HSE) on asbestos as a risk so we will review our asbestos management plans to make sure all are fully up to date, both where we or our occupiers are responsible for putting measures in place. We were pleased with the results of the WTW and BDO reviews. The WTW review noted that: “The overall score of 91% (70% in 2021) represents a good ability to defend regulatory action. We note and are pleased that Picton have taken on board most of our recommendations from our previous report (dated January 2021). This is reflected in the overall high score achieved. Picton’s commitment to improving their position since our last report cannot be understated.” The BDO report noted that: “Picton has appropriate measures in place across property management activities (including health and safety). The roles and responsibilities of the managing agents have been defined and Picton is able to demonstrate that it maintains oversight on each of the three agents.”
Picton Property Income Limited / Annual Report 2024
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