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SLI Property Income completes sale of St James House

18 December 2015 14:55

Standard Life Investments Property Income Trust has completed the sale of St James House in Cheltenham for £13.95m. The multi let office building has a current rent of £862,000 pa and an average lease length of just over 5 years. The end September valuation was £13.25m.

Fund manager of SLIIT, Jason Baggaley, said: The sale of this asset comes after we have completed the asset management we planned on purchase in 2012, realising profit, and enabling the funds to be reinvested into the Pearl portfolio which includes another office in Cheltenham with exciting opportunities. At 2:55pm: (LON:SLI) Standard Life Investment Property Inc Trust share price was +0.25p at 83.25p

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