Standard LifeInvProp SLIPIT Sale

 
TIDMSLI 
 
To:                        Company Announcements 
Date:                     20 March 2018 
Company:              Standard Life Investments Property Income Trust Limited 
LEI:                       549300HHFBWZRKC7RW84 
 
 
Subject:               SLIPIT Sale- Elstree Tower Borehamwood 
 
 
Further to the RNS released in September 2017 the Board of Standard Life 
Investments Property Income Trust Limited (SLIPIT) confirms that the sale of 
Elstree Tower in Borehamwood has completed for GBP20m. 
 
The property was last valued as at 30 December 2017 at this level. The 
Investment Manager will seek to reinvest the sale proceeds into new 
investments. Elstree Tower represented 5% of the total annual rent to the 
Company, and in reinvesting the sale proceeds the manager will seek to 
diversify this further, although there will be a small but temporary impact on 
dividend cover until the funds are reinvested. 
 
Jason Baggaley, fund manager of SLIPIT commented: Elstree Tower was the 
Company's largest asset, and had a lease break option in just under two 
years-time. The sale realised a profit on original cost and reduces specific 
risk. We will seek to reinvest in more secure and diversified income on a more 
modern asset. 
 
 
All enquiries to: 
Jason Baggaley 
Fund Manager 
Real Estate Investments 
Standard Life Investments 
1 George Street, Edinburgh, EH2 2LL 
Tel: [phone] 
[e-mail] 
 
 
The Company Secretary 
Northern Trust International Fund Administration Services (Guernsey) Limited 
PO Box 255 
Trafalgar Court 
Les Banques 
St Peter Port 
Guernsey 
GY1 3QL 
 
Mike Nokes 
Tel:        [phone] 
Fax:        [phone] 
 
 
 
 
END 
 

(END) Dow Jones Newswires

March 20, 2018 03:00 ET (07:00 GMT)