Acquisition

13 Sep 2006 17:50

Standard Life Invs Property Inc Tst13 September 2006 Standard Life Investments Property Income Trust Limited ("SLIPIT") To: Company AnnouncementsDate: 13 September 2006 Subject: Property Acquisition SLIPIT has exchanged contracts for the purchase of an industrial estate at MintoAvenue, Altens Industrial Estate, Aberdeen for £8.1m, representing an initialyield of 6.38%. The investment comprises two self contained blocks of 25 industrial units builtin the early 1980s and is multi let to 12 tenants on full repairing and insuringleases. There are two void units with rental guarantees. The passing rent is£553,130 per annum. The property was valued at £8.115m by DTZ Debenham Tie Leung on an open marketbasis in accordance with the RICS appraisal and valuation standards. All enquiries: The Company SecretaryNorthern Trust International Fund Administration Services (Guernsey) LimitedTrafalgar CourtLes BanquesSt Peter PortGuernseyGY1 3QL Tel: 01481 745338Fax: 01481 745085 Gordon HumphriesHead of Investment CompaniesStandard Life Investment Companies 0131 245 2735 This information is provided by RNS The company news service from the London Stock Exchange