abrdn Property Income Trust Limited - Trio of Office Lettings

abrdn Property Income Trust Limited

(an authorised closed-ended investment company incorporated in Guernsey with registration number 41352)

LEI Number: 549300HHFBWZRKC7RW84

(The "Company")

24 MAY 2023

TRIO OF OFFICE LETTINGS

abrdn Property Income Trust (API) has completed a trio of lettings within its office portfolio, securing £321,200 p.a. in rent. A lease to The Birmingham Chamber of Commerce and Industry and an agreement for lease to FCN Group Ltd have completed at 54 Hagley Road in Birmingham, whilst a letting to OneStream Software Ltd has completed at 15 Basinghall Street in London.

Mark Blyth, Deputy Fund Manager of API commented: "The lettings at 54 Hagley Road follow the 21,500 sq.ft deal we exchanged in April, and account for a further 8,200 sq.ft of space and secured £178,386 p.a. in rent. These recent lettings show significant progress with our business plan at the property, with the building now over 90% let. The letting at 15 Basinghall Street in London was for the 2,892 sq.ft 2nd floor, and now means the building is fully-let following a successful refurbishment and letting campaign.

The recent activity has been despite a challenging letting environment and is testament to the quality of the space API has to offer. It also points to the positive work API's asset management team have undertaken ensuring that our buildings meet current tenant expectations. In addition to other contracted lettings, the overall fund occupancy rate will exceed 95%, demonstrating strong letting momentum."

All Enquiries:

Jason Baggaley - Real Estate Fund Manager, abrdn

Tel: 07801039463 or jason.baggaley@abrdn.com

Mark Blyth - Real Estate Deputy Fund Manager, abrdn

Tel: 07703695490 or mark.blyth@abrdn.com

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