TIDMSLI

RNS Number : 7610I

Standard Life Invs Property Inc Tst

04 June 2014

   To:                   Company Announcements 
   Date:                4 June 2014 
   Company:         Standard Life Investments Property Income Trust Limited

Subject: Sale of Asset by SLIPIT

Standard Life Investments Property Income Trust is pleased to confirm it has completed the sale of its largest asset for GBP16m, reflecting a yield of 7.25%. The logistics unit in Bolton is let to Tesco until September 2016 at a rent of GBP1.2m pa. A purchase is currently in solicitors hands to reinvest the sale proceeds.

Jason Baggaley, fund manager of SLIPIT commented: 'This sale was undertaken to control lease expiry risk in line with the active management strategy for the fund. Most of the sale proceeds will go towards the purchase of an office in the South East providing longer secure income at a yield of 8.1%.'

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

DISSSFFMDFLSEFM

Abrdn Property Income (LSE:API)
Historical Stock Chart
From Jun 2024 to Jul 2024 Click Here for more Abrdn Property Income Charts.
Abrdn Property Income (LSE:API)
Historical Stock Chart
From Jul 2023 to Jul 2024 Click Here for more Abrdn Property Income Charts.