IPI Invesco Pty

 
TIDMIPI 
 
Invesco Property Income Trust Limited 
 
HEADLINE: Property Valuation 
 
The Directors announce the valuation of the Company's property portfolio as at 
30 June 2013. 
 
  * UK portfolio: GBP71.97 million (31 March 2013: GBP71.94 million) 
 
  * European portfolio: EUR131.46 million (31 March 2013: EUR132.26 million) 
 
The UK values were stable and European values fell by 0.6%. The total valuation 
was GBP184.45 million (31 March 2013: GBP183.43 million). 
 
Set out below is an analysis of the portfolio's vacancy rates, average gross 
yields and weighted unexpired lease terms at 30 June 2013 (31 March 2013). 
 
                               Portfolio at 30 June 2013 (31 March 2013) 
 
                                UK              European          Aggregate 
 
Vacancy rate              10.1% (11.0%)      18.9% (19.7%)      14.5% (15.4%) 
 
Average gross yield        9.3% (9.4%)        8.6% (8.5%)        8.9% (8.8%) 
 
Weighted average        4.0 yrs (4.2 yrs)  2.2 yrs (2.3 yrs)  2.9 yrs (3.1 yrs) 
unexpired lease term1 
 
Notes: 
 
1 To earlier of next break or lease maturity. 
 
As at 30 June 2013 the Sterling value of the Company's bank borrowings was GBP 
193.66 million (31 March 2013: GBP191.90 million). The change reflects currency 
movements only. 
 
The loan to value ratio was 105.0 per cent. (31 March 2013: 104.6 per cent.), 
which is below the maximum of 110 per cent. permitted under the Company's bank 
facility. 
 
The Company's interest cover stands at 160.5 per cent. (31 March 2013: 149.2 
per cent.) compared with the covenanted minimum of 145 per cent. The ICR is 
calculated on a look forward basis and the rise reflects some of the leasing 
success in the last quarters. 
 
The Net Asset Value and the Adjusted Net Asset Value per share as at 31 March 
2013, and subsequently as at 30 June 2013, will be announced in due course. 
 
9 July 2013 
 
Enquiries: 
 
Angus Pottinger 020 7065 4000 
 
Invesco Asset Management 
 
Rory Morrison 020 7543 3500 
 
Invesco Real Estate 
 
 
 
END 
 

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