TIDMSLI 
 
To                         Company Announcements 
Date                     12 May 2021 
Company             Standard Life Investments Property Income Trust Limited 
LEI                        549300HHFBWZRKC7RW84 
 
 
                        SLIPIT Investment Transactions 
 
Standard Life Investments Property Income Trust Limited (SLIPIT) has completed 
a further sale as part of its portfolio review. 
 
The most recent sale was an out of town office building in Farnborough let to 
BAE.  Following a detailed review of the offices in the portfolio it was felt 
this asset would not meet future occupier requirements, even with significant 
capex.  The other office sale (announced in the recent NAV statement) was 
located on a business park in Dartford. The combined sale price of £12.4m was 
5.5% below the end Dec valuations (driven by Farnborough). Both offices were 
over rented and the tenant was not in occupation (but had sublet some of the 
accommodation). 
 
The third sale was of a small retail warehouse in Bradford let to Halfords and 
Cubico. The property was over rented, and the sale price of £2.65m was in line 
with the end December valuation. 
 
Jason Baggaley, fund manager of SLIPIT, commented: "COVID 19 has accelerated 
trends in real estate, and in particular for offices. We completed a thorough 
review of our portfolio last year and as result decided to sell these three 
assets in addition to the sales undertaken in December 2020 to align the 
portfolio with increased ESG integration containing future fit assets. We look 
forward to reinvesting the proceeds into assets that will better meet the 
Company's needs". 
 
 
All enquiries to: 
 
Jason Baggaley  - Fund Manager 
Tel: 07801039463 
E-mail: jason.baggaley@aberdeenstandard.com 
 
 
 
END

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May 12, 2021 06:17 ET (10:17 GMT)

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