Standard Life Invs Property Inc Tst Sale of Asset by SLIPIT (7610I)
June 04 2014 - 2:00AM
UK Regulatory
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
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