Acquisition

RNS Number : 5489U

Standard Life Invs Property Inc Tst

18 October 2010

 



To:                   Company Announcements

Date:               18 October 2010

Company:       Standard Life Investments Property Income Trust Limited

Subject:           Acquisition

Standard Life Investment Property Income Trust has completed the purchase of a mixed use investment in Westminster London for £6.35m reflecting an initial yield of 8%.

The investment comprises a mix of restaurant, office, and retail units, with tenants including Tesco Stores Ltd, Galliard Homes, Made in China, Coral Racing and Henningson Durham Richardson Inc.

The purchase provides exposure to central London retail and office income, and is accretive to the revenue income in line with the Company's policy of a covered dividend. The purchase utilised funds from the recent sale of Bucknall St (sold at 6.5% initial yield).

All Enquiries:

The Company Secretary

Northern Trust International Fund Administration Services (Guernsey) Limited

Trafalgar Court

Les Banques

St Peter Port

Guernsey

GY1 3QL

Renee McIver

Tel:      [phone]

Fax:     [phone]

 

END

 

 

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