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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Abrdn Property Income Trust Limited | LSE:API | 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 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.50 | 0.98% | 51.50 | 50.90 | 51.40 | 51.70 | 50.80 | 51.20 | 582,292 | 16:29:58 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Real Estate Agents & Mgrs | 31.11M | -51.05M | -0.1339 | -3.85 | 196.33M |
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
(END) Dow Jones Newswires
March 23, 2017 03:00 ET (07:00 GMT)
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