Acquisition of Stacey Bushes Industrial Estate

19 August 2014

                 Schroder Real Estate Investment Trust Limited    
                                (the `Company')                                

         ACQUISITION OF STACEY BUSHES INDUSTRIAL ESTATE, MILTON KEYNES         

The Company announces that it has exchanged unconditional contracts to acquire
Stacey Bushes Industrial Estate in Milton Keynes for £9.2 million. The property
produces a rent of £755,726 per annum which results in a net initial yield of
7.76% per annum. This follows the announcements regarding recent sales
including the announcement dated 4 August 2014 with regards to the disposal of
Wembley, which produced gross sale proceeds of £7.56 million and was a
non-income producing site.

The freehold property comprises a 213,536 sqft multi-let industrial estate
immediately adjacent to the A5 dual carriageway on the west side of Milton
Keynes. The property, whichwas originally constructed in the 1980's, has
recently undergone an extensive refurbishment to provide a modern accommodation
with unit sizes ranging from 3,700 sqft to 10,000 sq ft. The property is
currently let to12 tenants with an average unexpired lease term, assuming all
tenant breaks are exercised, of 4.5 years.

There are currently eight vacant units on the estate, representing
approximately 20% by area, providing scope to add value through a strategy to
re-let the units to increase net income. Assuming the vacant units are re-let
at rents of between £4 and £4.50 per sqft, the yield increases from 7.76% to
approximately 10%.

Following completion of the acquisition, which is expected to take place
on 21August 2014, the Company will have cash of approximately £14.2 million and
a net loan-to-value, based on the independent valuation as at 30 June 2014, of
approximately 32%.


For further information:

Schroder Property Investment Management Limited:    020 7658 6000               
Duncan Owen / Nick Montgomery                                                  
                                                                               
Northern Trust:                                     01481 745529                
David Sauvarin                                                                 
                                                                               
FTI Consulting:                                     020 3727 1000               
Dido Laurimore / Nina Legge