Standard Life Investments Property Income Trust reports that its NAV return for the first six months of 2015 was 6.6% and its share price rose by 7% to give a return to shareholders of 10.0%. On an EPRA basis the NAV rise was 3.4%. The total return on the portfolio was 5.8%. This figure was behind the return on the IPD property monthly index of 6.3%
They bought two properties in Preston and Bristol for £20.4m and sold four for £11.6m – paying for the difference from part of the proceeds of £34.8m of share issuance with the excess helping to cut the loan to value ratio from 29.2% to 19.8%.
SLI : Standard Life Investments Property Income interims