To: Company Announcements
Date: 23 June 2021
Company: Standard Life Investments Property Income Trust Limited
Sale of asset
Standard Life Investments Property Income Trust (SLIPIT) has completed the sale of an industrial asset in Kettering for £9.05m (in line with the prior valuation). The asset extended to 216,753sqft of dated industrial accommodation that was utilised for manufacturing and aluminium moulding.
Jason Baggaley, Fund Manager of SLIPIT commented : In our recent review of the portfolio we decided to place a greater differential between industrial assets that were suitable for logistics, and those that were not, as we continue to seek to own assets that appeal not only to the current tenant, but to other occupiers as well. We have also applied a greater ESG overlay across the fund, as we expect a greater differential in pricing over units that perform well in terms of ESG and those that do not. We are looking to reinvest the proceeds of recent sales into high quality assets, and have several under offer.
All enquiries to:
Jason Baggaley - Fund Manager
Tel: 0131 245 2833
Mark Blyth - Deputy Fund Manager
Tel: 07703 695 490