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3 Oct 2011 11:45
To: Company Announcements
Date: 03 October 2011
Company: Standard Life Investment Property Income Trust Limited
"SLIPIT has completed the purchase of Explorer 1 & 2 and Mitre Court in Crawley, close to Gatwick Airport, for £7.03m. The purchase will show the fund a return of 9.25% after expiry of a rent free period March 2014. (The cost of the rent free has been deducted from the purchase price).The building was completed in 2002 and the tenants are Grant Thornton, Amey OWR Ltd, and Trade Skills 4 U Ltd. Jason Baggaley, fund manager of SLIPIT said that the enhancement to the Company's income stream was particularly attractive and the purchase provides further diversification within the portfolio. The fund is now virtually fully invested"
All enquiries:
The Company Secretary
Northern Trust International Fund Administration Services (Guernsey) Limited
Trafalgar Court
Les Banques
St Peter Port
Guernsey
GY1 3QL
Renee McIver
Tel: 01481 745324
Fax: 01481 745085
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