19 Dec 2017 07:00
Standard Life Investments Property Income Trust - SLIPIT SaleStandard Life Investments Property Income Trust - SLIPIT Sale
PR Newswire
London, December 18
To: Company AnnouncementsDate: 19 December 2017 Company: Standard Life Investments Property Income Trust LimitedLEI: 549300HHFBWZRKC7RW84
Subject: SLIPIT Sale : DSG in Preston
“Standard Life Investments Property Income Trust (SLIPIT) has completed the sale of two retail warehouse units let to DSG in Preston for £16.35m. The sale was 5.4% ahead of the end September valuation, and the sale proceeds will be reinvested into assets in the office and industrial sector where the Company is in exclusive negotiations on several assets.”
Jason Baggaley, fund manager of SLIPIT commented “The sale proceeds from this over rented asset will be reinvested into assets that we believe will offer greater growth prospects for the Company. We are in exclusive negotiation to purchase several assets that we believe will offer better risk adjusted returns over the next few years as the retail sector experiences continued headwinds”.
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 3QLSharon Ann WilliamsTel: 01481 745436Fax: 01481 745085