Standard LifeInvProp Investment Transactions

TIDMSLI 

To:                          Company Announcements 

Date:                     19 September 2019 

Company:           Standard Life Investments Property Income Trust Limited 

LEI:                         549300HHFBWZRKC7RW84 

Subject:               SLIPIT INVESTMENT TRANSACTIONS 

SLIPIT INVESTMENT TRANSACTIONS 

Standard Life Investments Property Income Trust (SLIPIT) has completed three 
investment transactions. It sold an industrial unit in Milton Keynes for GBP9.3m, 
which was slightly below the end June valuation. The property was let to an 
envelope manufacturing company and the sale was undertaken to reduce tenant 
covenant risk. At the same time the Company completed the purchase of a small 
industrial unit at Trafford Park Manchester for GBP3.5m which is adjacent to an 
existing holding, and provides greater opportunity for future redevelopment. 
The unit is let for a further 9 years so the initial yield of 5.65% is expected 
to grow to 6.9% at the next rent review. The Company has also completed the 
purchase of a mixed use office in Edinburgh for GBP8.7m. The property is let to 
Tesco and a pharmacy on the ground floor, and has four floors of offices above, 
with one vacant suite on the fourth floor. The purchase price reflects an 
initial yield of 3.2% which is expected to grow to 7.7% on expiry of rent frees 
and letting of the vacant suite of 4,500sqft. 

Jason Baggaley, Fund Manager of SLIPIT commented "We are pleased to have 
completed the sale of the industrial unit in Milton Keynes as we believed it 
was one of the greatest income risks to the Company. The sale proceeds have 
been invested into two buildings which we believe have good opportunities to 
grow rental income. We will be undertaking a small refurbishment of the vacant 
office suite in Edinburgh, to ensure it is attractive to occupiers". 

All enquiries to: 
Aberdeen Standard Investments 
1 George Street 
Edinburgh 
EH2 2LL 

Jason Baggaley - Fund 
Manager 
Tel: 0131 245 2833 

E-mail: jason.baggaley@aberdeenstandard.com 

Oli Lord - Deputy Fund Manager 
Tel: 0131 245 6077 
E-mail: oli.lord@aberdeenstandard.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 

Tel:        01481 745436 
Fax:       01481 745085 

END

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