28 Jul 2017 09:55
Standard Life Investments Property Income Trust - Correction : PurchaseStandard Life Investments Property Income Trust - Correction : Purchase
PR Newswire
London, July 27
Please note that this is a corrected version of the announcement released at 7am on the 28th July 2017. The only amendment is that this was a property sale rather than a purchase.
All other details remain the same.
To: Company Announcements
Date: 28 July 2017
Company: Standard Life Investments Property Income Trust Limited
Subject: SLIPIT Property Sale
Standard Life Investments Property Income Trust has completed the sale of a small industrial unit in Cheltenham to the tenant for £2.175m, reflecting a yield of 4.8%. The sale price was 8% ahead of the valuation as at 30 June.
Jason Baggaley, Fund Manager, commented: The industrial unit in Cheltenham was the Company’s second smallest asset, and had limited opportunity for the manager to add value. It was a very old unit that was of limited demand to other users, and the sale at a profit enables us to concentrate on other assets which better meet the Company’s requirements. All enquiries to:Jason BaggaleyFund ManagerReal Estate InvestmentsStandard Life Investments1 George Street, Edinburgh, EH2 2LLTel: +44 (0)131 245 2833jason_baggaley@standardlife.comThe Company SecretaryNorthern Trust International Fund Administration Services (Guernsey) LimitedPO Box 255Trafalgar CourtLes BanquesSt Peter PortGuernseyGY1 3QLSharon Ann WilliamsTel: 01481 745436Fax: 01481 745085