Standard LifeInvProp Purchase
November 21 2017 - 2:00AM
UK Regulatory
TIDMSLI
To: Company Announcements
Date: 21 November 2017
Company: Standard Life Investments Property Income Trust Limited
LEI: 549300HHFBWZRKC7RW84
Subject: SLIPIT Purchase - 1 Station Square, Bracknell
Standard Life Investments Property Income Trust (SLIPIT) has completed the
purchase of a multi let office, 1 Station Square, in Bracknell for GBP12m,
reflecting a yield of 6.9% on the topped up rent. The office has had a
substantial refurbishment, and is located adjacent to Bracknell train station,
and very close to the newly opened town centre retail scheme. The building also
benefits from an excellent car parking ratio. The top floor is vacant, and was
subject to a rent guarantee.
Jason Baggaley, Fund Manager of SLIPIT commented "We are excited by this
purchase as it provides a good quality building next to the train station and
amenities, which has been refurbished to provide grade A accommodation. The top
floor is vacant, but has interest from prospective tenants, and we believe that
after a difficult few years Bracknell will provide scope for rental growth now
the town centre has undergone major redevelopment."
All enquiries to:
Jason Baggaley
Fund Manager
Real Estate Investments
Standard Life Investments
1 George Street, Edinburgh, EH2 2LL
Tel: +44 (0)131 245 2833
jason_baggaley@standardlife.com
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
END
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