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27 Mar 2014 11:07
To: Company Announcements
Date: 27 March 2014
Company: Standard Life Investments Property Income Trust Limited
Subject: SLIPIT Purchase
Standard Life Investments Property Income Trust is pleased to announce it has completed the purchase of an industrial investment in Livingston for £3.6m, an initial yield of 10.65%. The investment consists of 2 modern industrial units, Unit 1 is let to UK Mail as a parcel delivery hub, and unit two is let to Crown Worldwide. Both units are well specified, and the average unexpired lease length is 5 years.
Jason Baggaley, fund manager of SLIPIT commented "I am delighted that we have been able to acquire these two units at such an attractive yield. Livingston is well located to service the major conurbations of Scotland, and both have a specification that is better than market norm for the unit size, and so work exceptionally well for the tenants, and would be expensive to replace. Unit 1 in particular is ideally suited for home delivery, an increasingly important part of the logistics market."
All enquiries:
The Company Secretary
Northern Trust International Fund Administration Services (Guernsey) Limited
Trafalgar Court
Les Banques
St Peter Port
Guernsey
GY1 3QL
Claire Cooke
Tel: 01481 745417
Fax: 01481 745085
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