abrdn Property Income Trust Limited Trio of Office Lettings

 
TIDMAPI 
 
abrdn Property Income Trust Limited 
 
(an authorised closed-ended investment company incorporated in Guernsey with 
registration number 41352) 
 
LEI Number: 549300HHFBWZRKC7RW84 
 
(The "Company") 
 
24 MAY 2023 
 
TRIO OF OFFICE LETTINGS 
 
abrdn Property Income Trust (API) has completed a trio of lettings within its 
office portfolio, securing £321,200 p.a. in rent. A lease to The Birmingham 
Chamber of Commerce and Industry and an agreement for lease to FCN Group Ltd 
have completed at 54 Hagley Road in Birmingham, whilst a letting to OneStream 
Software Ltd has completed at 15 Basinghall Street in London. 
 
Mark Blyth, Deputy Fund Manager of API commented: "The lettings at 54 Hagley 
Road follow the 21,500 sq.ft deal we exchanged in April, and account for a 
further 8,200 sq.ft of space and secured £178,386 p.a. in rent. These recent 
lettings show significant progress with our business plan at the property, with 
the building now over 90% let. The letting at 15 Basinghall Street in London was 
for the 2,892 sq.ft 2nd floor, and now means the building is fully-let following 
a successful refurbishment and letting campaign. 
 
The recent activity has been despite a challenging letting environment and is 
testament to the quality of the space API has to offer. It also points to the 
positive work API's asset management team have undertaken ensuring that our 
buildings meet current tenant expectations. In addition to other contracted 
lettings, the overall fund occupancy rate will exceed 95%, demonstrating strong 
letting momentum." 
 
All Enquiries: 
 
Jason Baggaley - Real Estate Fund Manager, abrdn 
 
Tel: 07801039463 or  jason.baggaley@abrdn.com 
 
Mark Blyth - Real Estate Deputy Fund Manager, abrdn 
 
Tel: 07703695490 or mark.blyth@abrdn.com 
 
END 
 
 
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