API Abrdn Property Income Trust Limited

 
TIDMSLI 
 
To:        Company Announcements 
Date:      24 November 2014 
Company:   Standard Life Investments Property Income Trust Limited 
 
Subject: SLIPIT Purchase 
 
Standard Life Investments Property Income Trust is pleased to confirm it has 
completed the purchase of a portfolio of five industrial and logistics units 
for a total of GBP23.75m, reflecting an initial yield of 7.25%. The purchase was 
funded from the equity raised on 13th November, is accretive to the net asset 
value as the equity was raised on a 5% premium, and the purchase was undertaken 
by way of a corporate purchase of an SPV. The five assets are located in 
Manchester, Birmingham, Cheltenham and two in Milton Keynes. All are single 
let, and total 390,490sq ft. The units are let on leases from 1 year to 21 
years term certain, and are considered reversionary, giving scope for further 
asset management. 
 
Jason Baggaley, fund manager for SLIPIT said "We are delighted to have 
completed this purchase, 2014 has been a very busy year for the Company, as we 
raised new equity and invested it for clients. This transaction continues our 
strategy of raising money at a sufficient premium to protect existing 
investors, and investing in good quality assets that are accretive to the 
revenue account, and without undue cash drag to the Company." 
 
All enquiries: 
 
Jason Baggaley 
Standard Life Investments Limited 
Tel: 01312452833 
 
 
 
END 
 

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