SLIPIT Investment Transactions

Standard Life Investments Property Income Trust - SLIPIT Investment Transactions

PR Newswire

London, December 6

To: Company Announcements

Date: 6 December 2019

Company: Standard Life Investments Property Income Trust Limited

LEI: 549300HHFBWZRKC7RW84

SLIPIT INVESTMENT TRANSACTIONS

Standard Life Investments Property Income Trust (SLIPIT) has completed the purchase of an industrial unit in Badentoy North, Aberdeen for £13.55m.

The property is let to Schlumberger Limited, the world’s largest oilfield services company for a further 8 years to break and 10 years to lease expiry, with fixed rent increases in February 2020 and 2025, based on 2.75% per annum compounded. The purchase reflects an initial yield of 6.9%, rising to 7.9% in February 2020.

Jason Baggaley, Fund Manager of SLIPIT commented ”We are pleased to have completed the purchase of this industrial unit on an established industrial park in Aberdeen, which provides well let and secure income in a modern specified unit at an attractive initial income yield for the company. This purchase recycles capital from the recent sale of an industrial unit at Denby at 5.75%, where strong performance was realised and from which the proceeds have been reinvested in a good quality asset with a better income profile and return prospects”.

All enquiries to:

Aberdeen Standard Investments1 George StreetEdinburghEH2 2LL

Jason Baggaley - Fund ManagerTel: 0131 245 2833E-mail: [email protected]

Oli Lord - Deputy Fund ManagerTel: 0131 245 6077E-mail: [email protected]

The Company SecretaryNorthern Trust International Fund Administration Services (Guernsey) LimitedPO Box 255, Trafalgar CourtLes Banques, St Peter PortGuernsey GY1 3QL

Tel: 01481 745385Fax: 01481 745085