SLI : Standard Life Investments Property puts another £29m to work
Standard Life Investments Property Income has spent £28.65m on three logistics assets.
Tetron 93 and Tetron 141 (pictured) both in Swadlincote in Derbyshire and Denby 242 on the Denby Hall estate, also in Derbyshire were built in 2008/9 and throw off rent of £2.1m between them – equivalent to an initial yield of 7%.
After this deal Standard Life Investments Property Income will have 30% of its portfolio invested in industrial assets. The funds to pay for this from the fund’s recent capital raise.