Purchase

To:          Company Announcements
Date:     21 November 2017  
Company:           Standard Life Investments Property Income Trust Limited
LEI:         549300HHFBWZRKC7RW84
 

Subject: SLIPIT Purchase – 1 Station Square, Bracknell

Standard Life Investments Property Income Trust (SLIPIT) has completed the purchase of a multi let office, 1 Station Square, in Bracknell for £12m, reflecting a yield of 6.9% on the topped up rent. The office has had a substantial refurbishment, and is located adjacent to Bracknell train station, and very close to the newly opened town centre retail scheme. The building also benefits from an excellent car parking ratio. The top floor is vacant, and was subject to a rent guarantee.

Jason Baggaley, Fund Manager of SLIPIT commented “We are excited by this purchase as it provides a good quality building next to the train station and amenities, which has been refurbished to provide grade A accommodation. The top floor is vacant, but has interest from prospective tenants, and we believe that after a difficult few years Bracknell will provide scope for rental growth now the town centre has undergone major redevelopment."

All enquiries to:
Jason Baggaley
Fund Manager
Real Estate Investments
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]