COMPLETION OF DISPOSAL OF THE BLEICHENHOF PROPERTY

STENPROP LIMITED

(Registered in Guernsey)

(Registration number 64865)

LSE share code: STP JSE share code: STP

ISIN: GG00BFWMR296

("Stenprop" or the "Company")

COMPLETION OF DISPOSAL OF THE BLEICHENHOF PROPERTY

5 March 2020

Further to the announcement made by the Company on 18 December 2019, Stenprop announces that the sale of the property known as Bleichenhof in Hamburg has now completed.

Paul Arenson, CEO of Stenprop, commented: "This is a significant sale for Stenprop, and another step in the transition towards becoming a 100% UK multi-let industrial business. This sale releases cash in excess of £46.7 million which is now available to be re-deployed in the acquisition of additional UK multi let industrial estates. Following completion of this sale, UK MLI estates now comprise approximately 57% of our total property portfolio".

For further information:

Stenprop Limited +44(0)20 3918 6600

Paul Arenson

James Beaumont

Julian Carey

Numis Securities Limited (Financial Adviser) +44(0)20 7260 1000

Hugh Jonathan

Vicki Paine

Tavistock (PR Adviser) +44(0)20 7920 3150

James Whitmore

James Verstringhe

Java Capital Trustees and Sponsors Proprietary Limited +27 (0)11 722 3050

(JSE sponsor)

About Stenprop:

Stenprop is a Guernsey-registered UK REIT. The objective of the Company is to deliver sustainable growing income to its investors. Stenprop's investment policy is to invest in a diversified portfolio of UK multi-let industrial (MLI) properties with the strategic goal of becoming the leading MLI business in the UK. For further information, go to www.stenprop.com.