Picton has exchanged contracts to sell Boundary House, a 45,000 sq ft office building in central London, to an overseas investor for £27.8m.
The firm received £2.8m on exchange, and the disposal will occur on 30 August. Picton will keep the building’s rental income until then.
Michael Morris, chief executive of Picton Capital, said: “This transaction will reduce our overall gearing, our exposure to the central London office market and crystallises the value we have created since purchase.”
The firm will announce its June NAV – the first since the Brexit vote – on 20 July 2016.