Standard LifeInvProp SLIPIT Purchase
March 09 2015 - 7:38AM
UK Regulatory
TIDMSLI
To: Company Announcements
Date: 9th March 2015
Company: Standard Life Investments Property Income Trust Limited
Subject: SLIPIT Purchase
Standard Life Investments Property Income Trust is pleased to confirm that it
has completed the purchase of a retail warehouse investment in Preston for
GBP15.9m, at a yield of 7%. The property is let to DSG for a further 16 years with
fixed increases in the rent every five years. The unit is adjacent to the
dominant park in the town and opposite a food store. The purchase takes the
Company's gross assets to just over GBP300m based on the December 2014 valuations.
Jason Baggaley, Fund Manager at Standard Life Investments, said "The purchase
provides the Company with an attractive income stream from a good quality
tenant and property. The purchase utilises the majority of the cash from the
recent equity raise and is accretive to the revenue account."
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
Abrdn Property Income (LSE:API)
Historical Stock Chart
From Mar 2024 to Apr 2024
Abrdn Property Income (LSE:API)
Historical Stock Chart
From Apr 2023 to Apr 2024