Standard Life Property Income completed disposal
Standard Life Property Income completed disposal – Standard Life Investments Property Income Trust (SLIPIT) has completed the sale of a multi let office in Slough for £13.25m, 9.6% ahead of the end December valuation.
In the release, the manger commented that the sale proceeds will be reinvested when suitable opportunities are available. The disposal is to realise a profit, but also to reduce future risk. “The property had one floor vacant, and the other leases expire in 2020 and 2021 when a comprehensive refurbishment will be required. The sale avoids the need for large scale capex and loss of income during the refurbishment.”
SLI : Standard Life Property Income completed disposal