LONDON (ShareCast) - (ShareCast News) - Guernsey-based Standard Life Investment Property Income Trust (SLIPIT) completed the sale of two of its retail warehouse units on Tuesday for a total of £16.35m.
The sale of the units to DSG in Preston came in at 5.4% ahead of the properties' most recent valuation in September, with the proceeds of the sale set to be reinvested into the office and industrial sector.

Jason Baggaley, fund manager of SLIPIT, said, "The sale proceeds from this over rented asset will be reinvested into assets that we believe will offer greater growth prospects for the company."

"We are in exclusive negotiation to purchase several assets that we believe will offer better risk adjusted returns over the next few years as the retail sector experiences continued headwinds," he added.

As of 1010 GMT, shares had slipped 0.26% to 90.26p.

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