13 Jul 2016 07:00
STANDARD LIFE INVESTMENTS PROPERTY INCOME TRUST LTD - Sales ActivitySTANDARD LIFE INVESTMENTS PROPERTY INCOME TRUST LTD - Sales Activity
PR Newswire
London, July 12
13 July 2016
STANDARD LIFE INVESTMENTS PROPERTY INCOME TRUST LIMITED (the “Company”)
(LSE: SLI)
Sales Activity
Standard Life Investments Property Income Trust is pleased to confirm that it has completed the sale of three properties in separate transactions.
The sale of a small industrial asset in Witham, completed on 24th June for £3.3million Causeway Side House in Teddington was bought as part of the Pearl Portfolio in December last year and has been sold to an owner occupier for £6.3million on 1st July Sale of a small retail parade in Kingston Upon Thames for £2.75million on 8th July In aggregate the sales were 3% ahead of the 31st March 2016 valuationsIn addition, the Company has completed lease renewals on four units (with two tenants) on its multi let industrial estate in Aberdeen. The renewals are in line with the March valuation ERVs and means the estate remains fully let.
Jason Baggaley, Fund Manager of SLIPIT said “We are pleased to have completed on these sales in line with our business plans, and will utilise the proceeds to reduce the level of borrowings under the revolving credit facility until such time as we believe suitable investment opportunities exist.”
For further information:-
Jason Baggaley – Real Estate Fund Manager Standard Life Investmentsjason_baggaley@standardlife.com
The Company SecretaryNorthern Trust International Fund Administration Services (Guernsey) LtdTrafalgar CourtLes BanquesSt Peter PortGY1 3QLTel: 01481 745001Fax: 01481 745085