STANDARD LIFE INVESTMENTS PROPERTY INCOME TRUST LTD - Sales Activity
13 July 2016 - 4:00PM
PR Newswire (US)
13 July 2016
STANDARD LIFE INVESTMENTS PROPERTY
INCOME TRUST LIMITED (the “Company”)
(LSE: SLI)
Sales Activity
Standard Life Investments Property Income Trust is pleased to
confirm that it has completed the sale of three properties in
separate transactions.
- The sale of a small industrial asset in Witham, completed
on 24th June for £3.3million
- Causeway Side House in Teddington was bought as part of the
Pearl Portfolio in December last year and has been sold to an owner
occupier for £6.3million on 1st July
- Sale of a small retail parade in Kingston Upon Thames for
£2.75million on 8th July
- In aggregate the sales were 3% ahead of the 31st March 2016 valuations
In addition, the Company has completed lease renewals on four
units (with two tenants) on its multi let industrial estate in
Aberdeen. The renewals are in line with the March valuation ERVs
and means the estate remains fully let.
Jason Baggaley, Fund Manager of
SLIPIT said “We are pleased to have completed on these sales in
line with our business plans, and will utilise the proceeds to
reduce the level of borrowings under the revolving credit facility
until such time as we believe suitable investment opportunities
exist.”
For further information:-
Jason Baggaley – Real Estate Fund
Manager Standard Life Investments
jason_baggaley@standardlife.com
The Company Secretary
Northern Trust International Fund Administration Services
(Guernsey) Ltd
Trafalgar Court
Les Banques
St Peter Port
GY1 3QL
Tel: 01481 745001
Fax: 01481 745085
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