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Picton Property Income Ltd on Tuesday confirmed that a consortium of two real estate investment trusts has been shortlisted for further talks about its formal sale process. The Guernsey-registered real estate investment trust disclosed that the consortium comprises LondonMetric Property PLC and Schroder Real Estate Investment Trust Ltd. Picton said that it will update the market ‘when appropriate’. The disclosure follows the company’s announcement on Thursday that it will delay its full-year results to after May 21 due to the ongoing process. LondonMetric and Schroder both confirmed Picton’s announcement within the hour, saying that discussions are ‘at an early stage’, although an indicative and non-binding proposal was submitted on March 4. The consortium envisions an all-share offer, should it make a firm one, with Picton shareholders receiving new shares in both LondonMetric and Schroder Real Estate Investment Trust. Picton owns and manages a commercial property portfolio in the UK across 46 assets and with around 300 occupiers, valued at £699 million as at December 31. Picton shares were up 2.6% to 79.00 pence each on Tuesday morning in London. Copyright 2026 Alliance News Ltd. All Rights Reserved.
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