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26 Jan 2010 07:00
To: Company Announcements
Date: 26 January 2010
Company: Standard Life Investments Property Income Trust Limited
Subject: Disposal
Standard Life Investments Property Income Trust is delighted to announce the sale of Capital Court Uxbridge for £19.2m. The sale price is 12.9% ahead of the Dec 30 valuation.
The Trust bought the property in April 2009 for £10.98m, and since that time had regeared several of the leases and let the void accommodation.
Jason Baggaley, Fund Manager of Standard Life Investments Property Income Trust, said "We had anticipated owning this investment as a long term hold, having bought it at the bottom of the cycle however the opportunity arose to crystalise the profit since purchase, ahead of our most recent valuation, and we will reinvest the proceeds into higher yielding stock".
All Enquiries:
Jason Baggaley
Fund Manager
Standard Life Investments
Tel 0131 2452 833
The Company Secretary
Northern Trust International Fund Administration Services (Guernsey) LimitedTrafalgar Court
Les Banques
St Peter PortGuernsey
GY1 3QL
Tel: 01481 745324
Fax: 01481 745085
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