Picton Property Income Limited Annual Report 2023

Strategic Report


Financial Statements

Additional Information

Sustainable refurbishments Our sustainable refurbishment guidelines, introduced in 2021, form an integral part of the planning and execution stages of refurbishment and construction projects. The guidelines allow for discussion with consultants, designers and other stakeholders, and provide clarity in a changing market. The guidelines are under constant review to ensure we evolve with markets, technology, and expertise enabling us to deliver against our targets. Updates to our sustainable refurbishment guidelines will include: ‒ Ensuring clarity of metering and transparency of energy usage ‒ Incorporation of on-site renewable energy ‒ Incorporation of certification schemes, suitable for the different types of refurbishment ‒ Updated procurement, supply chain and waste policies ‒ Provision of building records ‒ Ensuring the end product meets all current and expected future legislative requirements

Building certifications Whilst our net zero carbon pathway is focused on reducing carbon emissions, we also recognise the value of building certifications to provide third party validation. We have three certified office buildings in our portfolio, at Metro, Manchester and Tower Wharf, Bristol which were both awarded BREEAM ‘Excellent’ when they were refurbished, and Angel Gate, London, which has ISO 14001 certification. In line with our refurbishment guidelines and recognising the composition of the portfolio we are exploring alternative certifications that reflect the nature of our assets and on-site strategies.

SUSTAINABILITY ACTION PLANS Over the year we have implemented sustainability action plans at our multi-let properties. These plans identify areas for improvement, including biodiversity measures and social amenities as well as the introduction of energy efficiency measures. Energy efficiency measures introduced include new LED lighting at Colchester Business Park, Longcross, Cardiff, 180 West George Street, Glasgow, Gloucester Retail Park, Parkbury Industrial Estate, Radlett and Sundon Business Park, Luton. We have also installed motion sensor lighting at Trident House, St Albans and Parkbury Industrial Estate, Radlett. We have also undertaken a metering survey across our service charge sites to ensure effective metering and improve energy reporting. The use of the Asset IQ building management system to monitor and improve energy efficiency at 401 Grafton Gate, Milton Keynes, Pembroke Court, Chatham, 180 West George, Glasgow and 50 Farringdon Road, London has resulted in a significant kWh reduction in electricity usage across those assets. Our sustainability action plans are reviewed annually and we plan to action further initiatives over the course of next year.

Site type

Green building certification 2023



Retail, High Street Retail, Warehouse

0% 0% 0% 0% 0% 6%

Industrial, Business Parks Industrial, Distribution Warehouse


Our refurbishment guidelines aim to improve the sustainability credentials of our properties. Andy Lynch Head of Building Surveying

 Picton Property Income Limited  Annual Report 2023


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