STANDARD LIFE INVESTMENTS PROPERTY INCOME TRUST LTD - SLIPIT Sale

To:                    Company Announcements
Date:                 9^th 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 £14.75m.

The property was acquired in 2013 for £9.85m, and is fully let on a lease expiring in 2022 at a rent of £1.15mpa. 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:        [phone]
Fax:       [phone]

Copyright er 6 PR Newswire