Sale of Asset by SLIPIT

RNS Number : 7610I

Standard Life Invs Property Inc Tst

04 June 2014

 



To:                   Company Announcements

Date:                4 June 2014

Company:         Standard Life Investments Property Income Trust Limited

Subject: Sale of Asset by SLIPIT

Standard Life Investments Property Income Trust is pleased to confirm it has completed the sale of its largest asset for £16m, reflecting a yield of 7.25%. The logistics unit in Bolton is let to Tesco until September 2016 at a rent of £1.2m pa. A purchase is currently in solicitors hands to reinvest the sale proceeds.

Jason Baggaley, fund manager of SLIPIT commented: 'This sale was undertaken to control lease expiry risk in line with the active management strategy for the fund. Most of the sale proceeds will go towards the purchase of an office in the South East providing longer secure income at a yield of 8.1%.'

All enquiries:

The Company Secretary

Northern Trust International Fund Administration Services (Guernsey) Limited

Trafalgar Court

Les Banques

St Peter Port

Guernsey

GY1 3QL

Claire Cooke

Tel:       [phone]

Fax:      [phone]

 

END

 

 

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