Standard Life Invs Property Inc Tst SLIPIT Purchase (3483D)
March 27 2014 - 7:07AM
UK Regulatory
TIDMSLI
RNS Number : 3483D
Standard Life Invs Property Inc Tst
27 March 2014
To: Company Announcements
Date: 27 March 2014
Company: Standard Life Investments Property Income Trust Limited
Subject: SLIPIT Purchase
Standard Life Investments Property Income Trust is pleased to
announce it has completed the purchase of an industrial investment
in Livingston for GBP3.6m, an initial yield of 10.65%. The
investment consists of 2 modern industrial units, Unit 1 is let to
UK Mail as a parcel delivery hub, and unit two is let to Crown
Worldwide. Both units are well specified, and the average unexpired
lease length is 5 years.
Jason Baggaley, fund manager of SLIPIT commented "I am delighted
that we have been able to acquire these two units at such an
attractive yield. Livingston is well located to service the major
conurbations of Scotland, and both have a specification that is
better than market norm for the unit size, and so work
exceptionally well for the tenants, and would be expensive to
replace. Unit 1 in particular is ideally suited for home delivery,
an increasingly important part of the logistics market."
All enquiries:
The Company Secretary
Northern Trust International Fund Administration Services
(Guernsey) Limited
Trafalgar Court
Les Banques
St Peter Port
Guernsey
GY1 3QL
Claire Cooke
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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