API Abrdn Property Income Trust Limited

 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 24^th 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 1^st  July
• Sale of a small retail parade in Kingston Upon Thames for £2.75million on 8^th 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