Standard LifeInvProp Sales Activity
July 13 2016 - 1:00AM
UK Regulatory
TIDMSLI
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
GBP3.3million
* 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 GBP
6.3million on 1st July
* Sale of a small retail parade in Kingston Upon Thames for GBP2.75million 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
END
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