SLI.L Regulatory News (SLI)

Standard Life Investments Property Income Trust - SLIPIT Purchase

PR Newswire

London, January 8

To: Company AnnouncementsDate: 08 January 2018 Company: Standard Life Investments Property Income Trust LimitedLEI: 549300HHFBWZRKC7RW84 

Subject: SLIPIT Purchase – Shellingford

Standard Life Investments Property Income Trust (SLIPIT) has completed the purchase of a logistics facility of 216,180 sq ft in Shellingford, Oxfordshire on the established White Horse Business Park, for £11.5m, reflecting an initial yield of 6.5%. The unit is let for 25 years without break, and is subject to five yearly upwards only rent reviews fixed at 2.5%pa. 

Jason Baggaley, fund manager of SLIPIT, commented “the purchase is part of our recycling of capital from sales of assets that we felt had future risk to the Company performance, into well let assets that will provide an attractive income return to the Company. This facility is ideally suited to the tenant, who has recently invested in upgrading and consolidating its operation on site”.All enquiries to:Jason BaggaleyFund ManagerReal 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