9 Apr 2018 07:00
Standard Life Investments Property Income Trust - SLIPIT SaleStandard Life Investments Property Income Trust - SLIPIT Sale
PR Newswire
London, April 6
To: Company Announcements
Date: 9 April 2018
Company: Standard Life Investments Property Income Trust Limited
LEI: 549300HHFBWZRKC7RW84
Subject: SLIPIT Sale - Charter Court, Slough
Standard Life Investments Property Income Trust (SLIPIT) has completed the sale of a multi let office in Slough for £13.25m, 9.6% ahead of the end December valuation. The sale proceeds will be reinvested when suitable opportunities are identified.
Jason Baggaley, fund manager of SLIPIT commented: We decided to sell this asset to realise a profit, but also to reduce future risk. The property had one floor vacant, and the other leases expire in 2020 and 2021 when a comprehensive refurbishment will be required. The sale avoids the need for large scale capex and loss of income during the refurbishment.
All enquiries to:
Jason BaggaleyFund ManagerReal Estate InvestmentsStandard 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 3QLMike NokesTel: 07883 078002Fax: 01481 745085