Purchase – Sandy, Bedfordshire

To:                        Company Announcements
Date:                     08 February 2018   
Company:              Standard Life Investments Property Income Trust Limited
LEI:                       549300HHFBWZRKC7RW84
 

Subject:               SLIPIT Purchase – Sandy, Bedfordshire

Standard Life Investments Property Income Trust (SLIPIT) has completed the purchase of an industrial complex in Sandy, Bedfordshire for £6.02m, reflecting a yield of 6.25%. The property is located immediately adjacent to a junction of the A1, approximately 40 miles north of central London, and is let for an unexpired term of 19 years at a rent of £3.17psf, subject to indexed increases in rent every five years. The purchase was funded from cash resources following recent sales.

Jason Baggaley, fund manager of SLIPIT, commented “this is another acquisition for the Company of a long let industrial unit leased at a low rent. The current tenant has been located on site for a considerable time, makes extensive use of the complex, which we believe also offers interesting future potential, given its immediate access to the A1 and proximity to central London.

All enquiries to:
Jason Baggaley
Fund Manager Real Estate
Standard Life Investments
1 George Street, Edinburgh, EH2 2LL
Tel: [phone]
[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

Sharon Ann Williams
Tel:        [phone]
Fax:        [phone]