Standard LifeInvProp Purchases

TIDMSLI 

To:                        Company Announcements 

Date:                    10 December 2021 

Company:            Standard Life Investments Property Income Trust Limited 

LEI:                      549300HHFBWZRKC7RW84 

                                   Purchases 

Standard Life Investments Property Income Trust ("SLIPIT or the Company") has 
completed two purchases totalling £22.79m, financed out of existing cash 
reserves. 

The first is a forward funding in St Helens, where SLIPIT has acquired the site 
and will fund the development of an industrial unit with a total commitment of 
£15.05m.  The premises are pre-let to St Helens Borough Council for a 15 year 
term with 5-yearly index-linked rent reviews generating a net initial yield of 
4.25%.   The unit will be used as a research and development facility, 
focussing on improving the environmental impact of glass manufacture. 

The second  acquisition is of an existing industrial unit in Washington let to 
Griffith Textile Machines Ltd until September 2035.  The purchase price of £ 
7.735m reflects a net initial yield of 5.75%. 

Mark Blyth, Deputy Fund Manager of SLIPIT commented: "We are delighted to have 
completed on both of these purchases in quick succession.  The St Helens 
funding offers SLIPIT 15 year, index-linked, Government income from an asset 
with strong ESG credentials and providing a good risk-adjusted income return. 

The Washington acquisition is an example of SLIPIT buying into an asset with 
not only a strong income return, but also the potential to drive further value. 
 Included with the building is a 3.5 acre development site, which not only 
offers the opportunity to grow the income through expansion of the existing 
occupier or development, but also provides scope to implement ESG initiatives." 

All enquiries to: 

Jason Baggaley - Fund 
Manager 
Tel: 0131 245 2833 

E-mail: jason.baggaley@aberdeenstandard.com 

Mark Blyth - Deputy Fund Manager 
Tel: 07703 695 490 
E-mail: mark.blyth@aberdeenstandard.com 

END

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