API Abrdn Property Income Trust Limited

 
TIDMSLI 
 
To:           Company Announcements 
Date:         12th August 2015 
Company:      Standard Life Investments Property Income Trust Limited 
 
 
Standard Life Investments Property Income Trust (SLIPIT) rebalances portfolio 
with quartet of transactions 
 
Standard Life Investments Property Income Trust is pleased to confirm it has 
completed the sale of two assets, and purchased two more. It completed the sale 
of an industrial investment in Leeds for GBP3.85m and an office in Glasgow for GBP 
5.7m. The sales were 18.4% ahead of the March 2015 valuation and reduced the 
risk of voids in the next two years. The purchases were of a single let office 
in Kiddlington Oxford with just over 6 years remaining on the lease for GBP4.8m, 
providing a yield of 8.25% pa, and a single let  industrial unit in Segensworth 
Fareham for GBP3.1m, providing a yield of 7.15% pa on the expected rent following 
an outstanding rent review. 
 
The Company also expects to complete on the sale of a small industrial unit in 
Stockton on Tees on the 14th August for GBP1.3m, and is in solicitors hands for 
the purchase of a parcel delivery unit let in the Northeast of England let for 
a further 8 years for a consideration of GBP2.9m, providing a yield of 7.25%. 
 
Jason Baggaley, Fund Manager of SLIPIT said "We have, over the first half of 
2015, looked to sell assets that we believe have limited potential to meet our 
strategic requirements in the medium term, and we have now more or less 
completed this program. We have been able to reinvest the sale proceeds into 
good quality real estate B with both attractive yields and value add 
opportunities". 
 
 
All enquiries: 
 
Jason Baggaley 
Standard Life Investments Limited 
Tel: 0131 245 2833 
 
 
 
END 
 

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