abrdn Property Income Trust Limited - Sale of Asset

abrdn Property Income Trust Limited - Sale of Asset

PR Newswire

London, August 3

abrdn Property Income Trust Limited
(an authorised closed-ended investment company incorporated in Guernsey with registration number 41352)

LEI Number: 549300HHFBWZRKC7RW84

3 August 2022

SALE OF ASSET

abrdn Property Income Trust ("API") has completed the sale of a single-let office building in Kidlington for £8.033m, reflecting a net initial yield of 5.35%.

Built in 2002, the building is let to Bio-Rad on a recently re-geared 10 year lease with a tenant break option in year 5. Acquired in 2015, the investment has contributed a 14.4% annualised return over the hold period. The sale continues the strategy of reducing the Trust's office weighting and will enable it to reinvest in more favoured sectors.

Mark Blyth, Deputy Fund Manager of API commented: "This sale is the culmination of our successful asset management strategy, with the property providing a strong contribution to the performance of the Trust. It will also provide us with funds to take advantage of potential buying opportunities in the short-medium term."

All Enquiries:

Jason Baggaley - Real Estate Fund Manager, abrdn
Tel: [phone] or [e-mail]

Mark Blyth - Real Estate Deputy Fund Manager, abrdn
Tel: [phone] or [e-mail]