Picton Property Income Limited Annual Report 2022

Business Model

Our business model

Our business model creates value through owning a portfolio that generates a diversified and stable income stream. We have the flexibility to adapt to changing market conditions and so deliver value to our stakeholders through the property cycle.

How we create value

01

Our business model is driven by knowledge, expertise and research led decision making Our in-depth understanding of the UK commercial property market enables us to identify and source value across different sectors and reposition the portfolio through the property cycle.

What makes us different

02 Stock selection and acquisition – buying into growth assets, locations or sectors

Our long-term track record of outperformance

We have established a diversified UK property portfolio and while income focused, we will consider opportunities where we can enhance value and/or income.

We have outperformed the MSCI UK Quarterly Property Index over one, three, five and ten years, and since inception.

Read more on pages 32–33

Our diversified exposure to the UK commercial property market, with flexibility to adapt to changing market conditions Our diversified property portfolio generates income from around 400 occupiers across a wide range of businesses, providing the opportunity for income and capital growth.

03 Creating value through proactive asset management

Our diverse occupier base generates a stable income stream, which we aim to grow through active management and capturing market rental uplifts. Our occupier focused, opportunity led approach ensures we create space that meets our occupiers’ needs in order to maintain high levels of occupancy across the portfolio.

Read more on pages 32–43

Our occupier focused and responsible approach to business

Our occupier focused approach ensures we actively manage our assets, maintain high occupancy and create space for our occupiers to succeed. Sustainability is integrated within our business model and corporate strategy and in the way we and our occupiers operate.

04 Selling assets to recycle into better opportunities We identify assets for disposal to

maximise value creation. Proceeds are invested into new opportunities, or used elsewhere within the Group.

Read more on pages 60–66

Picton Property Income Limited Annual Report 2022

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