API Completes Sale Amidst Tough Office Market

Standard Life Investments Property Income (GB:API) has released an update.

abrdn Property Income Trust Limited has successfully sold an office property at 101 Princess Street in Manchester for £4.3 million, slightly below its mid-year valuation. The multi-tenanted building, with mixed office and leisure space, faced a high vacancy rate, posing a challenge in the current market. Proceeds from the sale will be used to reduce the company’s revolving credit obligations.

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