Strategic Report
Financial Statements
Additional Information
Governance
Portfolio summary
47 Number of assets 4.0% Net initial yield
£849m Value 5.4% Reversionary yield
93% Occupancy
4.7m sq ft Area
Top ten occupiers The largest occupiers, based as a percentage of contracted rent, as at 31 March 2022, are as follows: Occupier Contracted rent (£m)
%
Public sector
2.3 1.6 1.2 1.2 1.2 1.0
5.0 3.6 2.8 2.6 2.6 2.2
Whistl UK Limited
B&Q Plc
The Random House Group Limited
Snorkel Europe Limited
XMA Limited
Portal Chatham LLP
0.9 0.8 0.7 0.7 11.6
2.1 1.7 1.5 1.5
DHL Supply Chain Limited Hi-Speed Services Limited
Canterbury Christ Church University
Total
25.6
Top ten assets The largest assets, as at 31 March 2022, ranked by capital value, represent 55% of the total portfolio valuation and are detailed below:
Acquisition date
Property type
Approximate area (sq ft)
Capital value (£m)
No. of occupiers
Occupancy rate (%)
Assets
Tenure
Parkbury Industrial Estate, Radlett, Herts.
03/2014 Industrial
Freehold Freehold
343,800 454,800 55,100 99,400 19,600 312,900 64,600 70,600
>100
21
100
River Way Industrial Estate, Harlow, Essex 12/2006 Industrial
50-75 30-50 30-50 30-50 30-50 30-50 20-30 20-30 20-30
10 100
Datapoint, Cody Road, London E16 Lyon Business Park, Barking Stanford Building, London WC2
05/2010 Industrial Leasehold
6 8 4
100
09/2013 Industrial
Freehold Freehold Freehold Freehold Freehold
77
05/2010
Office
100 100
Shipton Way, Rushden
07/2014 Industrial
1
Angel Gate, City Road, London EC1 Tower Wharf, Cheese Lane, Bristol 50 Farringdon Road, London EC1
10/2005 08/2017 10/2005
Office Office Office
18
61
6 4 11
90
Leasehold*
31,300
100
Sundon Business Park, Dencora Way, Luton 10/2005 Industrial
Freehold 127,800
91
*Denotes leasehold interest in excess of 950 years.
Picton Property Income Limited Annual Report 2022
33
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