8 Feb 2018 10:54
Standard Life Investments Property Income Trust - Purchase – Sandy, BedfordshireStandard Life Investments Property Income Trust - Purchase – Sandy, Bedfordshire
PR Newswire
London, February 8
To: Company AnnouncementsDate: 08 February 2018 Company: Standard Life Investments Property Income Trust LimitedLEI: 549300HHFBWZRKC7RW84
Subject: SLIPIT Purchase – Sandy, Bedfordshire
Standard Life Investments Property Income Trust (SLIPIT) has completed the purchase of an industrial complex in Sandy, Bedfordshire for £6.02m, reflecting a yield of 6.25%. The property is located immediately adjacent to a junction of the A1, approximately 40 miles north of central London, and is let for an unexpired term of 19 years at a rent of £3.17psf, subject to indexed increases in rent every five years. The purchase was funded from cash resources following recent sales.
Jason Baggaley, fund manager of SLIPIT, commented “this is another acquisition for the Company of a long let industrial unit leased at a low rent. The current tenant has been located on site for a considerable time, makes extensive use of the complex, which we believe also offers interesting future potential, given its immediate access to the A1 and proximity to central London.
All enquiries to:Jason BaggaleyFund Manager Real EstateStandard Life Investments1 George Street, Edinburgh, EH2 2LLTel: +44 (0)131 245 2833jason_baggaley@standardlife.comThe Company SecretaryNorthern Trust International Fund Administration Services (Guernsey) LimitedPO Box 255Trafalgar CourtLes BanquesSt Peter PortGuernseyGY1 3QLSharon Ann WilliamsTel: 01481 745436Fax: 01481 745085