Acquisition of New Warehouse in Spain

Aberdeen Standard European Logistics Income PLC (LSE: ASLI) (the "Company" or "ASLI")

LEI: 213800I9IYIKKNRT3G50

30 December 2019

ACQUISITION OF LAST-MILE LOGISTICS ASSET LOCATED IN MADRID, SPAIN, FOR €9.2 MILLION

Purchase agreement

The Company is pleased to announce that it has acquired an urban located cross-dock logistics warehouse in Coslada, Madrid, for a value of €9.2 million, providing a net initial yield of 5.0%.

The asset is located in Coslada, to the east of Madrid. This is one of the best locations for last-mile logistics in Spain due to its 15kms proximity to the city centre and 1km distance from Barajas airport together with the population size of the Madrid metropolitan area of over 6 million which this building may serve. Urban logistics units are typically smaller in size, reflected in the building size of 6,785 square metres which includes 1,892 square metres of office space. As a cross-dock warehouse, the building has loading bays/doors on both sides of the building, 37 in total. This is ideal for city distribution with lorries bringing in goods at the front end of the building and smaller delivery vans on the opposite side being loaded for onward transmission. With a free height of 10.5 metres it also provides ample space for temporary storage with part of the building being used as cooled storage.

The warehouse has an attractive income profile and is fully leased to DHL Freight Spain S.L.U. on a recently renewed ten year CPI indexed lease. DHL is a strong tenant being one of the largest logistics operators in the world and has operated in this area for 20 years.

Evert Castelein, the Company's Fund Manager, commented:

"I am extremely pleased that we have been able to source this off-market deal, again emphasising the benefit of having our own locally based transaction managers in many of the countries where we invest.

Madrid has a substantial and important logistics market and we see strong growth in the provision of modern logistics stock in the outer limits of the city. However, the highly constrained nature of the Coslada submarket and its strategic importance in connecting the city with the airport and routes through to the east of the country, supports the long term relevance of this asset in the supply chain. The strong growth of e-commerce in Spain reinforces the importance of last-mile logistics hubs such as Coslada. This asset therefore carries many of the attractive performance characteristics we have been targeting from the outset of the fund and we are delighted to be able to bring it into the portfolio.

This latest freehold property purchase will bring the portfolio to fourteen assets in total diversified across five countries with a value of €387.3 million (footnote 1)."

For further information:

Aberdeen Standard Fund Managers Limited

0207 463 6000

Luke Mason

Gary Jones

Investec Bank plc

0207 597 4000

Will Barnett

Neil Brierley

Alice Douglas

Dominic Waters

Denis Flanagan

David Yovichic

Notes to Editors

Aberdeen Standard European Logistics Income PLC is a UK investment trust with a premium listing on the Main Market of the London Stock Exchange. The Company invests in European logistics real estate to achieve its objective of providing its shareholders with a regular and attractive level of income return together with the potential for long term income and capital growth. The Company aims to invest in a portfolio of assets diversified by both geography and tenant throughout Europe, predominantly targeting well-located assets at established distribution hubs and within population centres.

1 Value using Q3 2019 announced total property portfolio value of €300.7 million plus purchase prices as announced for Warsaw (€27.5m), Den Hoorn (€49.9m) and Madrid (€9.2m).