Maples Cross Purchase

RNS Number : 7512H

Standard Life Invs Property Inc Tst

25 June 2013

 



To:                   Company Announcements

Date:                25 June 2013

Company:         Standard Life Investments Property Income Trust Limited

Subject: Maple Cross Purchase

Standard Life Investments Property Holdings has announced the purchase of an office investment in Maple Cross, Rickmansworth for £9.85m, reflecting a yield of 11.1%. The property, which is located close to junction 17 of the M25, is let to Trebor Basset for a further 9 years.

Commenting on the acquisition, Jason Baggaley, Fund Manager of the Standard Life Investments Property Income Trust said,

"The Company has issued over 11.7m new shares since February 2013, fully utilising its 10% issuance authority under its block listing, so we are delighted to have acquired this office investment which offers an attractive and secure income stream of 11.1%.  At some point in the future the building will have asset management opportunities which will, we believe, further enhance returns to the Company".

"We hope to be able to secure other such attractive properties in the near future. This activity continues our approach to recycling capital and enhancing the revenue account."

All enquiries:

The Company Secretary

Northern Trust International Fund Administration Services (Guernsey) Limited

Trafalgar Court

Les Banques

St Peter Port

Guernsey

GY1 3QL

Claire Martin

Tel:       [phone]

Fax:      [phone]

 

END

 

 

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