Picton Property Income’s total returns climbed to 27.4% over the full year to the end of March as it posted a 23% increase in net asset value per share.
The total property returns for the company, at 19%, also outperformed the IPD index as the portfolio’s net assets increased by 70%.
The company has acquired £62m of new properties spread over five new assets, disposed of four assets for £4.4m and spent £4m on refurbishment projects over the year, helping the asset value of the portfolio rise to £370m.
Picton also raised £102m in equity through a placement in 2014 and reduced gearing to 30.1% by the end of March.
