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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Standard Life Investments Property Income Trust Ld | LSE:SLI | London | Ordinary Share | GB0033875286 | ORD 1P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 79.00 | 79.00 | 79.40 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From Apr 2019 to Apr 2024
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 £19m 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 £6.75m, 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 (£7.5m), 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
Copyright h 22 PR Newswire
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