Picton Acquires Long Let Retail Park in Gloucester

6 March 2015

                        PICTON PROPERTY INCOME LIMITED                         

                          ("Picton" or the "Company")                          

              PICTON ACQUIRES LONG LET RETAIL PARK IN GLOUCESTER               

Picton, the property investment company,has acquired Gloucester Retail Park for
£14.65 million, reflecting a net initial yield of 6.9%.

The retail park is prominently located on Eastern Avenue and comprises four
units totalling 112,000 sq ft. It is in a recognised Retail Warehouse location
and is leased to leading discount retailers: B&M Bargains, Carpetright, The
Range and AHF.

It producesa diversified annual income of £1.067 million with an average
weighted lease length of 13.2 years at a low average rent of under £9.60 per sq
ft. which reflectsrecent letting activity.

Michael Morris, Chief Executive, commented: "Since the start of the year we
have deployed £19.5 million using proceeds from our Placing Programme.We think
this is an attractive entry point, recognising the income longevity and low
overall rent, and believe there are a number of asset management opportunities
which should enhance income and value during our ownership."

                                     ENDS                                      


For further information:

Tavistock Communications
Jeremy Carey/James Verstringhe, 020 7920 3150, [e-mail]


Picton Capital Limited
Michael Morris, 020 7011 9980, [e-mail]


The Company Secretary

Northern Trust International Fund Administration Services (Guernsey) Limited
Trafalgar Court
Les Banques
St Peter Port
Guernsey
GY1 3QL

David Sauvarin, 01481 745001, [e-mail]


Note to Editors

Picton Property Income Limited ('Picton') is an income focused property
investment company listed on the London Stock Exchange. Picton can invest both
directly and indirectly in commercial property across the United Kingdom.

With Net Assets of £315.7 million at 31 December 2014 and approximately 870
investors, the Company's objective is to provide shareholders with an
attractive level of income, together with the potential for capital growth by
investing in the principal commercial property sectors.www.pictonproperty.co.uk