Acquisition

RNS Number : 4158P

Standard Life Invs Property Inc Tst

03 October 2011

 



To:                    Company Announcements

Date:                03 October 2011

Company:         Standard Life Investment Property Income Trust Limited

"SLIPIT has completed the purchase of Explorer 1 & 2 and Mitre Court in Crawley, close to Gatwick Airport, for £7.03m. The purchase will show the fund a return of 9.25% after expiry of a rent free period March 2014. (The cost of the rent free has been deducted from the purchase price).

The building was completed in 2002 and the tenants are Grant Thornton, Amey OWR Ltd, and Trade Skills 4 U Ltd.

Jason Baggaley, fund manager of SLIPIT said that the enhancement to the Company's income stream was particularly attractive and the purchase provides further diversification within the portfolio. The fund is now virtually fully invested"

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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