API Abrdn Property Income Trust Limited

 
TIDMSLI 
 
To: Company Announcements 
 
Date: 12 November 2014 
 
Company: Standard Life Investments Property Income Trust Limited 
 
 
Subject: SLIPIT Purchase 
 
Standard Life Investments Property Income Trust is pleased to confirm it has 
completed the purchase of a mixed use retail and leisure investment in Glossop 
for GBP10.15m. 
 
The purchase price reflects an initial yield of 6.1% and an equivalent yield of 
7.5%. The property has two vacant units, one of which is in solicitors hands 
and the other has good interest. On letting these the income yield will go to 
7.3%. 
 
The investment has 10 tenants, the largest being M&S Simply foods in a purpose 
built unit constructed in 2012 and let on a 15 year lease. Other significant 
tenants include Travelodge, Weatherspoons and Peacocks. 
 
Jason Baggaley, fund manager of SLIPIT said "The investment provides SLIPIT 
with a diverse income stream with opportunity for asset management in an 
engaging development in Glossop. The scheme has become the focus for leisure 
provision in the town centre and we look forward to letting the vacant space to 
further improve vibrancy. The purchase will be funded out of existing cash 
resources and leaves the Company effectively fully invested". 
 
All enquiries: 
 
Jason Baggaley 
Standard Life Investments Limited 
Tel: 01312452833 
 
 
 
END 
 

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