API Abrdn Property Income Trust Limited

 
TIDMSLI 
 
To:          Company Announcements 
 
Date:     23 March 2017 
 
Company:           Standard Life Investments Property Income Trust Limited 
 
Subject:               SLIPIT Sale 
 
Standard Life Investments Property Income Trust (SLIPIT) has completed the sale 
of its largest asset, White Bear Yard, an office located in Farringdon, London. 
The sale price of GBP19m reflects an initial yield of 4.96%, and is just above 
the last valuation figure. 
 
The asset was acquired by the Company in 2004 for GBP6.75m, and since then has 
benefitted from a minor refurbishment and reletting / lease regears. The 
proceeds of the sale will be used to repay the outstanding drawn amount under 
the RCF (GBP7.5m), and the remaining funds will be used to invest into new 
investment opportunities that better meet the Company's current investment 
requirements. 
 
Jason Baggaley, Fund Manager of SLIPIT said "White Bear Yard has been a 
wonderful investment for the Company, but it was time to sell as it had 
increased downside risk given its location and lease profile. As a result of 
the sale the Company has no exposure to City of London offices, and will be 
reinvesting into assets that offer a stronger income return with less volatile 
capital expectations". 
 
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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