12 Jun 2014 09:39
To: Company Announcements
Date: 12 June 2014
Company: Standard Life Investments Property Income Trust Limited
Subject: Sale of Assets by SLIPIT
Standard Life Investments Property Income Trust Limited is pleased to confirm it has sold a portfolio of three retail warehouses for a total of £11.89m. The Company has provided rental guarantees on the void unit, and a top up for rent free periods, and so the net receipt could be reduced to £11.22m.
The assets are a Halfords unit in Paisley, Poundstretcher in Wymondham, and Clough Road Retail Park in Hull. As a result of the sale the Company's void rate has fallen to under 1% and income at risk in 2015 from tenant lease breaks has been reduced.
All enquiries:
Jason Baggaley
Standard Life Investments Limited
Tel: 0131 245 2833