Business
Sales Activity
Sales Activity.
About this update from Abrdn Property Income Trust Limited
[{"type":"text","content":"\n \n 13 July 2016\n\nSTANDARD LIFE INVESTMENTS PROPERTY INCOME TRUST LIMITED (the “Companyâ€)\n\n(LSE: SLI)\n\nSales Activity\n\nStandard Life Investments Property Income Trust is pleased to confirm that it has completed the sale of three properties in separate transactions.\n\n\nThe sale of a small industrial asset in Witham, completed on 24th June for £3.3million\n\nCauseway Side House in Teddington was bought as part of the Pearl Portfolio in December last year and has been sold to an owner occupier for £6.3million on 1st July\n\nSale of a small retail parade in Kingston Upon Thames for £2.75million on 8th July\n\nIn aggregate the sales were 3% ahead of the 31st March 2016 valuations\n\n\nIn addition, the Company has completed lease renewals on four units (with two tenants) on its multi let industrial estate in Aberdeen. The renewals are in line with the March valuation ERVs and means the estate remains fully let. \n\nJason Baggaley, Fund Manager of SLIPIT said “We are pleased to have completed on these sales in line with our business plans, and will utilise the proceeds to reduce the level of borrowings under the revolving credit facility until such time as we believe suitable investment opportunities exist.â€\n\n For further information:-\n\nJason Baggaley – Real Estate Fund Manager Standard Life [email protected]\n\nThe Company SecretaryNorthern Trust International Fund Administration Services (Guernsey) LtdTrafalgar CourtLes BanquesSt Peter PortGY1 3QLTel: 01481 745001Fax: 01481 745085\n\n ","length":1916,"tagName":"div"}]