Letting of Largest Vacancy

To:                     Company Announcements

Date:                  7 December 2018

Company:           Standard Life Investments Property Income Trust Limited

LEI:                    549300HHFBWZRKC7RW84

Subject:              Letting of Largest Vacancy

Standard Life Investments Property Income Trust (SLIPIT) has completed the letting of its largest vacancy, a logistics unit Swadlingcote. The 141,000sqft unit has been let at a rent of £813,000pa on a new five year lease subject to a lease break after the third year to a 3^rd party logistics company. The property only became vacant in July 2018 and the previous passing rent was £670,000pa.

The Company has also completed the sale of its second largest void at Unit 6 Broadgate, Broadway Business Park, Oldham (previously reported) and the letting of the third largest void at Monck Street in London, which was subject to an agreement for lease at the end of September.

As at the end September the reported void rate was 10.8% and following these transactions this void rate falls to 5.8%.

All Enquiries:

Aberdeen Standard Investments
1 George Street
Edinburgh
EH2 2LL

Jason Baggaley - Fund Manager                                                                               
Tel: [phone]                                                                           
E-mail: [e-mail]                             

Oli Lord - Deputy Fund Manager
Tel: [phone]
E-mail: [e-mail]

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:        [phone]
Fax:        [phone]