Standard Life Investments Property Income Trust - Purchase
February 21 2017 - 5:24AM
PR Newswire (US)
To:
Company Announcements
Date:
21 February 2017
Company:
Standard Life Investments Property Income Trust Limited
Subject: SLIPIT
Purchase
Standard Life Investments Property Income Trust (“SLIPIT”) has
completed the purchase of an industrial investment in Sunderland
for £5.5m, representing an initial yield of 6.4%.
The property is located close to the Nissan assembly plant and
is let for a further 5 years to a major supplier for Nissan. The
property has planning permission for a new extension, and offers
opportunity for asset management in the future.
Jason Baggaley, Fund Manager of
SLIPIT said "This purchase provides the Company with a well let
industrial unit in a thriving location with limited supply and
increasing demand. We look forward to working with the tenant to
utilise the low site cover and reversionary rent to unlock value
enhancement in the future, but in the meantime the investment
provides an attractive and reliable income stream that is accretive
to the revenue account. "
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
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