Standard Life Invs Property Inc Tst Maples Cross Purchase (7512H)
June 25 2013 - 2:30AM
UK Regulatory
TIDMSLI
RNS Number : 7512H
Standard Life Invs Property Inc Tst
25 June 2013
To: Company Announcements
Date: 25 June 2013
Company: Standard Life Investments Property Income Trust Limited
Subject: Maple Cross Purchase
Standard Life Investments Property Holdings has announced the
purchase of an office investment in Maple Cross, Rickmansworth for
GBP9.85m, reflecting a yield of 11.1%. The property, which is
located close to junction 17 of the M25, is let to Trebor Basset
for a further 9 years.
Commenting on the acquisition, Jason Baggaley, Fund Manager of
the Standard Life Investments Property Income Trust said,
"The Company has issued over 11.7m new shares since February
2013, fully utilising its 10% issuance authority under its block
listing, so we are delighted to have acquired this office
investment which offers an attractive and secure income stream of
11.1%. At some point in the future the building will have asset
management opportunities which will, we believe, further enhance
returns to the Company".
"We hope to be able to secure other such attractive properties
in the near future. This activity continues our approach to
recycling capital and enhancing the revenue account."
All enquiries:
The Company Secretary
Northern Trust International Fund Administration Services
(Guernsey) Limited
Trafalgar Court
Les Banques
St Peter Port
Guernsey
GY1 3QL
Claire Martin
Tel: 01481 745417
Fax: 01481 745085
This information is provided by RNS
The company news service from the London Stock Exchange
END
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