abrdn Property Income Trust Ltd

Net Asset Value • Mar 20, 2018

National Storage Mechanism | Additional information

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Standard Life Investments Property Income Trust - SLIPIT Sale

PR Newswire

London, March 20

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 £20m.

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: +44 (0)131 245 2833

[email protected]

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:        07883 078002

Fax:        01481 745085