API Abrdn Property Income Trust Limited

To:                          Company Announcements
Date:                     19 May 2016
Company:           Standard Life Investments Property Income Trust Limited

Subject:               SLIPIT Sale  

SLIPIT is pleased to confirm that is has completed the sale of a small office building in Stockport for £2.95m.  Turin Court is a modern office but the current tenant is due to leave in July 2016 following the expiry of the lease and capital expenditure would have been required to bring the building up to a suitable standard for re-letting.  The sale price was 10% above the December 2015 valuation.

Jason Baggaley, Fund Manager, said “This sale enabled the Company to exit a non-core asset before the rental income ended and capex was necessary, but at a price ahead of expectations. The sale proceeds will be used to reduce borrowings."

All enquiries:

The Company Secretary
Northern Trust International Fund Administration Services (Guernsey) Limited
PO Box 255
Trafalgar Court
Les Banques
St Peter Port
Guernsey
GY1 3QL

Sharon Ann Williams
Tel:        01481 745436
Fax:        01481 745085