REG-abrdn Property Income Trust Limited: Asset Disposal

abrdn Property Income TrustAnnouncement

28/08/2024 07:30

 

abrdn Property Income Trust Limited

(an authorised closed-ended investment company incorporated in Guernsey with
registration number 41352)

LEI Number: 549300HHFBWZRKC7RW84

(The “Company” or “API”)

 

28 August 2024

 
Asset disposal

 

abrdn Property Income Trust (“API”) has completed on the sale of an
industrial asset in Dover for £9.475m, which is in line with the June 2024
valuation (but 4.8% below the March valuation).

Bastion Point, Dover is a single-let industrial unit let to the Secretary of
State for Housing Communities and Local Government, with just over two years
left on the occupational lease.  The price of £9.475m reflects a net initial
yield of 6.1%.

Mark Blyth, Deputy Fund Manager of API commented: “This is the fifth asset
sale that the Company has completed this year, and the first since the
shareholder vote to proceed with a managed wind down of the Company.  As
outlined in previous communications on the managed wind down strategy, the
available proceeds will be used to pay down the Company’s Revolving Credit
Facility.”

All Enquiries:

Jason Baggaley – Real Estate Fund Manager, abrdn

Tel:  07801 039463 or jason.baggaley@abrdn.com

 

Mark Blyth – Real Estate Deputy Fund Manager, abrdn

Tel: 07703 695490 or mark.blyth@abrdn.com

 

 



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