Acquisition (5489U)
October 18 2010 - 6:15AM
UK Regulatory
TIDMSLI
RNS Number : 5489U
Standard Life Invs Property Inc Tst
18 October 2010
To: Company Announcements
Date: 18 October 2010
Company: Standard Life Investments Property Income Trust
Limited
Subject: Acquisition
Standard Life Investment Property Income Trust has completed the
purchase of a mixed use investment in Westminster London for
GBP6.35m reflecting an initial yield of 8%.
The investment comprises a mix of restaurant, office, and retail
units, with tenants including Tesco Stores Ltd, Galliard Homes,
Made in China, Coral Racing and Henningson Durham Richardson
Inc.
The purchase provides exposure to central London retail and
office income, and is accretive to the revenue income in line with
the Company's policy of a covered dividend. The purchase utilised
funds from the recent sale of Bucknall St (sold at 6.5% initial
yield).
All Enquiries:
The Company Secretary
Northern Trust International Fund Administration Services
(Guernsey) Limited
Trafalgar Court
Les Banques
St Peter Port
Guernsey
GY1 3QL
Renee McIver
Tel: 01481 745324
Fax: 01481 745051
This information is provided by RNS
The company news service from the London Stock Exchange
END
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