Strategic Report
Financial Statements
Additional Information
Governance
EPRA measures
120p EPRA NTA per share (2021: 97p, 2020: 93p) 4.1% EPRA net initial yield (2021: 4.8%, 2020: 4.8%)
119p EPRA NDV per share (2021: 93p, 2020: 88p) 4.8% EPRA ‘topped-up’ net initial yield (2021: 5.5%, 2020: 5.4%)
131p EPRA NRV per share (2021: 105p, 2020: 102p) 7.2% EPRA vacancy rate (2021: 8.8%, 2020: 11.5%)
£21.2m EPRA earnings (2021: £20.1m, 2020: £19.9m) 26.0% EPRA cost ratio 1 (2021: 26.9%, 2020: 28.3%)
3.9p EPRA earnings per share (2021: 3.7p, 2020: 3.7p) 19.9% EPRA cost ratio 2 (2021: 20.8%, 2020: 20.2%)
1 Including direct vacancy costs 2 Excluding direct vacancy costs
Occupier focused asset management Responsible stewardship
Occupancy 93%
EPC rating 71%
Net zero carbon 2040
2022 2021 2020
Target date
71
2022 2021 2020
93 91
64
55
89
Increased occupancy
Improved EPC ratings A-C
Asset management transactions completed 76
Signatory to Better Buildings Partnership Climate Commitment ‒ Pathway to net zero carbon published ‒ This covers both operational and embodied emissions
‒ 34 lettings or agreements to lease, 8% ahead of ERV ‒ 21 lease renewals or regears, 3% ahead of ERV ‒ 12 rent reviews, 7% ahead of ERV ‒ 9 other asset management transactions
Invested into asset refurbishment, upgrades and repositioning projects £10m
Picton Property Income Limited Annual Report 2022
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