Completion of Wembley disposal

For release 22 December 2014

                  Schroder Real Estate Investment Trust Limited
                            (the `Company' / `Group')
 
                         Completion of Wembley disposal

The Company announces that the disposal of the Olympic Office Centre in Wembley
to Network Stadium Housing Association Limited has completed at the agreed
price of £15.4 million. This is in line with the independent valuation as at 30
September 2014 of £15.4 million, and compares to the independent valuation as
at 30 June 2014 of £10.75 million.

Following completion of this disposal the Company has total cash balances of
approximately £23 million and a net loan to value, based on the independent
valuation as at 30 September 2014 and updated for all subsequent transactions,
of approximately 27%.

                                    -ENDS-                                     

For further information:

Schroder Real Estate Investment Management Limited        020 7658 6000        
Duncan Owen / Nick Montgomery                                                  
                                                                               
Northern Trust:                                           01481 745529                
David Sauvarin                                                                 
                                                                               
FTI Consulting:                                           020 3727 1000               
Dido Laurimore / Ellie Sweeney