API Abrdn Property Income Trust Limited

 
TIDMSLI 
 
To:                    Company Announcements 
Date:                 9th November 2015 
Company:          Standard Life Investments Property Income Trust Limited 
 
Subject:             SLIPIT Sale 
 
Standard Life Investments Property Income Trust is pleased to confirm that it 
has completed the sale of an office investment in Maple Cross Rickmansworth for 
GBP14.75m. 
 
The property was acquired in 2013 for GBP9.85m, and is fully let on a lease 
expiring in 2022 at a rent of GBP1.15mpa. The investment has given the Company a 
total return of 79.3% since acquisition, and it is intended to recycle the sale 
proceeds into the Pearl portfolio acquisition, assuming that proceeds to 
completion. 
 
Jason Baggaley, Fund manager of SLIPIT commented "We bought this asset to 
deliver a high income return as part of our focus on providing shareholders 
with an attractive dividend income. However it has performed ahead of 
expectations so we decided to realise the profit and recycle the capital as we 
have done with a number of assets over the last few years. We hope to reinvest 
the proceeds into the acquisition of the Pearl portfolio before the year end 
thereby minimising cash drag". 
 
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 
 
 
 
END 
 

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