Picton Property Income Limited Annual Report 2023


Strategic Report

Financial Statements

Additional Information

How we engage

What we have done this year

We have a small team and engage regularly with them. We have an appraisal process where each member of the team will discuss their performance and objectives with their line manager twice a year. The Board discusses individual development and career progression regularly. We carry out an annual employee survey, and the results of this are discussed by the Board. The Board also meets with the whole team informally when in-person Board meetings are held at Stanford Building.

The results of the employee engagement survey were positive and our flexible working arrangements were still valued by the team. This year we were able to hold a Christmas social event for the team and guests for the first time since the start of the pandemic.

We are committed to improving local communities where we own buildings, whether providing space to local businesses, improvement of local areas or minimising the environmental impact of buildings themselves. We engage through our charity and community initiatives and through our occupier engagement programme.

Our charitable donations for the year were £27,000, and we supported 23 different charities. We have maintained our long-standing partnerships with The Funding Network and Coram, and this year have established new charity partnerships with The Fostering Network and Future Youth Zone, which is based close to one of our properties.

One of our key priorities is to work with our occupiers, so that we can understand their needs and aim to meet their current and future requirements. Our asset managers, guided by our Picton Promise, maintain regular contact with occupiers and discuss with them any issues regarding the buildings and any future plans we have. Our Head of Occupier Services has developed an occupier engagement programme and attends occupier meetings and other events. We send out an occupier newsletter regularly with relevant and helpful information. We value the views of all our shareholders and senior management hold regular meetings to update shareholders on progress and activity. We issue regular investor updates with key financial highlights and updates on the portfolio. Our website provides investors with up-to-date information about the Group. This year our Annual General Meeting was at Stanford Building and we also held a webinar for shareholders at the same time for those unable to attend in person.

This year we have undertaken occupier surveys at our multi-let offices and industrial estates. The results from the surveys were positive, and the specific issues raised regarding buildings have been dealt with by our property managers. We have also rolled out our occupier app at a further two properties, and will continue to implement this at more properties over the course of this year.

The Chair and Chief Executive have held meetings with major shareholders this year to receive feedback on issues important to the strategic direction and growth of the business. The Chair of the Remuneration Committee has sought consultation from our shareholders regarding the Directors’ Remuneration Report ahead of the 2022 Annual General Meeting and will consult further ahead of this year’s Annual General Meeting.

We seek to maintain productive and long-term relationships with our business partners. We have in place a framework for conducting business across the Group in a way that makes a positive contribution to society, while minimising any negative impact on people and the environment.

We have continued to ensure that our suppliers are paid promptly and within payment terms. This year we have further rolled out our modern slavery terms with new suppliers.

 Picton Property Income Limited  Annual Report 2023


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