Picton Property Income Limited Annual Report 2023

Strategic Report


Financial Statements

Additional Information

Biodiversity We are committed to broadening the scope of biodiversity across our portfolio by introducing more measures at our offices and across a number of industrial estates where possible. We take a collaborative approach to biodiversity, working with biodiversity advisers, our managing agents, landscapers and our occupiers to ensure we take on board ideas and suggestions. In line with the Better Buildings Partnership’s biodiversity checklist, we aim to: ‒ Set biodiversity targets at selected properties ‒ Plan the implementation of biodiversity improvements measures, alongside expert advice ‒ Ensure adequate funding is available to maintain these measures ‒ Monitor progress and adapt if necessary During the year, we have installed additional beehives, bug hotels, bird and bat boxes as well as compost bins across several of our multi-let office buildings. We also have in place biodiversity plans to guide our approach to landscaping to promote wild vegetation at some of our larger locations — for example, at Colchester Business Park. We have also introduced biodiversity measures successfully at appropriate industrial estates including in Epsom and Radlett. Our plans for 2023 are to continue to use the Better Buildings Partnership’s biodiversity checklist, and carefully manage the funding required to introduce and maintain our biodiversity measures as well as improve the way in which we communicate locally about the importance of biodiversity.

Water consumption We collect the majority of our water data via actual manual meter reads (90% from actual reads). Due to the location of some water meters, achieving accurate and regular consumption measurements is not practical, therefore we rely on estimated data from the suppliers. Reflecting increased occupancy post-pandemic and portfolio acquisitions, over the year we have seen an overall increase across the portfolio of 228% for absolute landlord purchased water consumption and a like-for-like increase of 60%. The large increase is due to the increased occupancy levels at our multi-let office buildings, property acquisitions and improved data capture. We have begun works to install automatic water flow measuring devices across the portfolio. These will enable us to accurately measure water consumption and significantly improve our data collection. Over the past year the largest increase in consumption in absolute terms occurred across our office portfolio, from 12,028m 3 to 29,003m 3 (a 241% increase). On a like-for-like basis, the increase was 169%. Due to the nature of our retail portfolio and distribution warehouse portfolio (which have very few communal areas or utility supplies), the water consumption figures are insignificant at a portfolio level (comprising less than 0.1% of the total landlord controlled consumption). Going forward, we will continue to follow our refurbishment guidelines by adopting water efficiency measures as we undertake refurbishment and maintenance projects across the portfolio.

Materials and waste We recognise the importance of sustainable waste disposal and therefore remain committed to eliminating landfill waste disposal across the landlord controlled portfolio. This year we have again successfully diverted 100% of waste from landfill across property management activities, using either recycling or heat recovery. Following increased occupancy across the portfolio post-pandemic, this has led to an increase in absolute waste generation over the year of 102%. Of this, 83% was recycled and 17% recovered. On a like-for-like basis, the increase was 100% with 84% recycled and 16% recovered. We continue to engage with our waste providers and occupiers with the aim of improving the sorting and filtering of waste at our properties. The benefit of this is to make the downstream sorting, recycling and recovery process more efficient.

100% Waste diverted from landfill from property management activities

 Picton Property Income Limited  Annual Report 2023


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