Standard Life Investments Property Income Trust - SLIPIT Purchase
January 08 2018 - 4:04AM
PR Newswire (US)
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
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