LONDON (Alliance News) - Standard Life Investments Property Income Trust Ltd Thursday said it has sold a portfolio of three retail warehouses for GBP11.9 million, meaning its portfolio void rate has fallen to under 1% and income at risk in 2015 from tenant lease breaks has been reduced.
In a statement, the trust said the net receipt from the portfolio sales could be reduced to GBP11.2 million, because it has provided rental guarantees on a void unit, and a top up for rent free periods.
The assets are a Halfords unit in Paisley, Poundstretcher in Wymondham, and Clough Road Retail Park in Hull, it said.
Standard Life Investments Property Income Trust shares were down 0.1% at 74.96 pence Thursday morning.
By Steve McGrath; stevemcgrath@alliancenews.com; @SteveMcGrath1
Copyright 2014 Alliance News Limited. All Rights Reserved.