LONDON--Standard Life Investments Property Income Trust (SLI.LN) said Tuesday it has sold an office building called The Quadrangle in Cheltenham for 11.1 million pounds ($13.4 million).

The property is single let to RBS (RBS.LN), whose lease expires in June, 2018, the company said.

The money from the sale will be used to lower the company's debt, Standard Life said.

Shares at 0920 GMT up 0.25 pence, or 0.3%, at 86.50 pence valuing the company at GBP329 million.

 

-Write to Olga Cotaga at olga.cotaga@wsj.com, Twitter @OlgaCotaga

 

(END) Dow Jones Newswires

January 17, 2017 04:37 ET (09:37 GMT)

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