Disposal

RNS Number : 8379P

Standard Life Invs Property Inc Tst

30 October 2012

 



To:                    Company Announcements

Date:                30 October 2012

Company:         Standard Life Investment Property Income Trust Limited

"Standard Life Investments is pleased to confirm that is has completed the sale of a Virgin Active Health and Fitness club in Chislehurst Kent for £3.925m.

The property was valued at 30 June 2012 at £3.75m. The sale price reflected an initial yield of 6.15%. The lease to Virgin Active had rent reviews every five years fixed to a 2.5% pa increase, however the first review is not until 2018.

Jason Baggaley, Fund Manager of SLIPIT said " The sale, ahead of valuation, continued our policy of selling low yielding assets after asset management. We will reinvest the proceeds, along with some of our current cash, into higher yielding assets that will further enhance our 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

Renee McIver

Tel:       [phone]

Fax:      [phone]

 

END

 

 

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