Disposal

RNS Number : 1002G

Standard Life Invs Property Inc Tst

26 January 2010

 



To:             Company Announcements

Date:          26 January 2010

Company:    Standard Life Investments Property Income Trust Limited

Subject:    Disposal

Standard Life Investments Property Income Trust is delighted to announce the sale of Capital Court Uxbridge for £19.2m. The sale price is 12.9% ahead of the Dec 30 valuation. 

The Trust bought the property in April 2009 for £10.98m, and since that time had regeared several of the leases and let the void accommodation. 

Jason Baggaley, Fund Manager of Standard Life Investments Property Income Trust, said "We had anticipated owning this investment as a long term hold, having bought it at the bottom of the cycle however the opportunity arose to crystalise the profit since purchase, ahead of our most recent valuation, and we will reinvest the proceeds into higher yielding stock". 

All Enquiries:

Jason Baggaley

Fund Manager

Standard Life Investments

Tel [phone]

The Company Secretary 

Northern Trust International Fund Administration Services (Guernsey) Limited
Trafalgar Court

Les Banques

St Peter Port
Guernsey

GY1 3QL

Tel: [phone]

Fax: [phone]

 

END

 

 

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