SLIPIT Purchase

RNS Number : 3483D

Standard Life Invs Property Inc Tst

27 March 2014

 



To:                   Company Announcements

Date:                27 March 2014

Company:         Standard Life Investments Property Income Trust Limited

Subject: SLIPIT Purchase

Standard Life Investments Property Income Trust is pleased to announce it has completed the purchase of an industrial investment in Livingston for £3.6m, an initial yield of 10.65%. The investment consists of 2 modern industrial units, Unit 1 is let to UK Mail as a parcel delivery hub, and unit two is let to Crown Worldwide. Both units are well specified, and the average unexpired lease length is 5 years.

Jason Baggaley, fund manager of SLIPIT commented "I am delighted that we have been able to acquire these two units at such an attractive yield. Livingston is well located to service the major conurbations of Scotland, and both have a specification that is better than market norm for the unit size, and so work exceptionally well for the tenants, and would be expensive to replace. Unit 1 in particular is ideally suited for home delivery, an increasingly important part of the logistics market."

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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