Acquisition

30 Oct 2009 16:13



To: Company Announcements

Date: 30 October 2009

Company: Standard Life Investment Property Income Trust Limited

Subject: Acquisition

Standard Life Investments Property Income Trust has exchanged contracts for the purchase of Northern & Shell Tower, Selsdon Way, Docklands, London for £10m.

The 54,000 sqft office building is let to Northern & Shell Ltd for a further 13 years at an annual rent of £909,000pa, subject to an upwards only rent review in December 2012. The purchase price reflects a net initial yield of 8.6%.

The purchase is being funded out of cash resources, and is due to complete on 12th November.

All Enquiries:

Jason Baggaley

Fund Manager, Standard Life Investments

Tel: 0131 245 2833

The Company Secretary 

Northern Trust International Fund Administration Services (Guernsey) LimitedTrafalgar CourtLes BanquesSt Peter PortGuernseyGY1 3QL

Tel: 01481 745324

Fax: 01481 745085