Picton raises new equity as NAV rises

Picton Property Income has reported a rise of 0.3% in its NAV, from 92.7p to 93p in the three months to the end of June.

Net assets also increased over the same period, from £499.4m in March to £508.4m by the end of June this year.

The company also raised £7.1m of new equity at a 1.9% premium to the March NAV and its loan-to-value reduced from 24.7% to 24.1%.

Its investment property valuation stands at £679m.

Nick Thompson, chairman of Picton, said: “We have delivered another positive set of results during a quarter in