SLI sells European logistics parks

Standard Life Investments, one of the largest property investors in Europe, has sold two logistics parks in the Czech Republic and Poland on behalf of its Select Property Fund.

Both projects were developed in a joint venture with Panattoni Europe, one of the world’s biggest commercial developers. The Czech property was developed in 2007, and the Polish park in 2010, at a combined cost of €42.9 million (£36.3m). The properties have produced higher income yields than those in most European markets, and provided investors with a healthy capital uplift.