API Abrdn Property Income Trust Limited

To:                       Company Announcements
Date:                    08 January 2018   
Company:             Standard Life Investments Property Income Trust Limited
LEI:                      549300HHFBWZRKC7RW84
 

Subject:               SLIPIT Purchase – Shellingford  

Standard Life Investments Property Income Trust (SLIPIT) has completed the purchase of a logistics facility of 216,180 sq ft in Shellingford, Oxfordshire on the established White Horse Business Park, for £11.5m, reflecting an initial yield of 6.5%. The unit is let for 25 years without break, and is subject to five yearly upwards only rent reviews fixed at 2.5%pa. 

Jason Baggaley, fund manager of SLIPIT, commented “the purchase is part of our recycling of capital from sales of assets that we felt had future risk to the Company performance, into well let assets that will provide an attractive income return to the Company. This facility is ideally suited to the tenant, who has recently invested in upgrading and consolidating its operation on site”.


All enquiries to:
Jason Baggaley
Fund ManagerReal Estate
Standard Life Investments
1 George Street, Edinburgh, EH2 2LL
Tel: +44 (0)131 245 2833
jason_baggaley@standardlife.com


The Company Secretary
Northern Trust International Fund Administration Services (Guernsey) Limited
PO Box 255
Trafalgar Court
Les Banques
St Peter Port
Guernsey
GY1 3QL

Sharon Ann Williams
Tel:        01481 745436
Fax:        01481 745085