Standard Life Investments Property Income Trust has completed the purchase of a multi let industrial scheme in Feeder Road, Bristol for GBP5.27m. The 8 unit scheme is fully let to 7 tenants and provides the opportunity for asset management through lease regears and renewals over the next three years.
Jason Baggaley, Fund Manager, commented that “This purchase fits the Fund requirements of buying good quality property in good locations, with short term leases to increase income. We really like Bristol due to the lack of supply of small units and continued tenant demand, and look forward to working this asset to realise the reversionary potential it has.”
SLI : Standard Life Property Income buys industrial scheme in Bristol