Standard Life Investments Property Income Trust - Investment Transactions
PR Newswire
LEI 549300HHFBWZRKC7RW84
SLIPIT Investment Transactions
Standard Life Investments Property Income Trust Limited (SLIPIT) has completed a further sale as part of its portfolio review.
The most recent sale was an out of town office building in Farnborough let to BAE. Following a detailed review of the offices in the portfolio it was felt this asset would not meet future occupier requirements, even with significant capex. The other office sale (announced in the recent NAV statement) was located on a business park in Dartford. The combined sale price of £12.4m was 5.5% below the end Dec valuations (driven by Farnborough). Both offices were over rented and the tenant was not in occupation (but had sublet some of the accommodation).
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