Picton Acquisition

9 September 2014

                        PICTON PROPERTY INCOME LIMITED
                         ("Picton" or the "Company")

                  PICTON ACQUIRES PETERBOROUGH RETAIL ASSET

Picton, the income focused property investment company, has completed the
acquisition of a freehold city centre retail property in Peterborough,
Cambridgeshire for £9.075 million, reflecting a net initial yield of 6.5%.

The property, which totals 89,000 sq ft., comprises two prime high street
retail units, with significant frontage to the pedestrianised Bridge Street,
let to TK Maxx and New Look until 2020 and 2021 respectively. It produces an
annual rent of £625,000 reflecting a low average overall rent of £7.00 per sq
ft., which is subject to review in 2015 and 2016.

The Company has now made over £81 million of acquisitions during the course of
this year and this purchase fully utilises the remainder of the funds
allocated for acquisitions raised during the £35 million Initial Placing in
May of this year.

Michael Morris, Chief Executive, commented: "We were attracted to this asset
due to a combination of factors, including the strong population growth within
Peterborough, the property's core location, the flexibility of the units and
the low overall rental levels which are subject to review over the next couple
of years. This is yet another acquisition in line with our strategy of buying
assets with a strong correlation to their cost of construction and
illustrative of our continuing ability to find suitable opportunities that
meet our investment objective."

                                     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 £258.9 million at 30 June 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