Picton Property Income: Edison
Real estate – LSE – M cap £385m – Price 71.70p – Flash
PICTON PROPERTY INCOME
Further accretive sale completed
(PCTN) has completed the £8.4m disposal of a vacant office building, which is to be redeveloped for student accommodation. The company completed three such sales in FY25, for an aggregate £51m (gross), at an average 5% premium to the March 2024 valuation. In addition to the valuation uplift, the sales significantly enhance earnings and provide opportunities for accretive capital deployment, including ongoing share repurchases.
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