CRC.L

Circle Property Plc
Circle Property PLC - Final Disposal - 300 Pavilion Drive, Northampton
4th May 2023, 06:00
TwitterFacebookLinkedIn
To continue viewing RNS, please confirm that you are a Private Investor*

* A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:

  1. Obtains access to the information in a personal capacity;
  2. Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
  3. Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
  4. Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
  5. Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
  6. Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
RNS Number : 3425Y
Circle Property PLC
04 May 2023
 

4 May 2023

Circle Property Plc

("Circle", the "Company" or the "Group")

 

Final Disposal - 300 Pavilion Drive, Northampton

 

Circle Property Plc (AIM: CRC), is pleased to announce, that it has exchanged and simultaneously completed the sale of its final remaining asset, 300 Pavilion Drive, Northampton ("300 Pavilion Drive") to Portman Finance Group Ltd at a sale price of £2.85 million.

 

300 Pavilion Drive comprises approximately 43,577 sq ft of office accommodation including approximately 12,875 sq ft of refurbished, vacant and available to let office space. 300 Pavilion Drive is part let, as follows: Grant Thornton UK LLP (47.9%), ALD Automotive Limited (12.4%), NAK Consulting (5.4%) and Online Direct (4.7%). 300 Pavilion Drive has total rent passing of approximately £0.39 million per annum (£12.74 psf overall). 300 Pavilion Drive was acquired by the Company in May 2009 for £3.875 million and had a valuation as at 30 September 2022 of £5.45 million. The profit before tax for the year ended 31 March 2022 attributable to 300 Pavilion Drive was £0.2 million.

 

The net proceeds from the disposal will be held as Group cash and will be returned to Shareholders once adjusted for the Group's termination costs.

 

Further announcements will be made, in due course.

 

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the UK version of the EU Market Abuse Regulation (2014/596) which is part of UK law by virtue of the European Union (Withdrawal) Act 2018, as amended and supplemented from time to time.

 

 

Circle Property Plc              

 +44 (0)20 7930 8503

John Arnold, CEO

Edward Olins, COO




Cenkos Securities plc

+44 (0)20 7397 8900

Katy Birkin

George Lawson

 

Radnor Capital

Joshua Cryer

Iain Daly

 

 

 

 

+44 (0)20 3897 1830

Camarco

+44 (0)20 3757 4992

Ginny Pulbrook

Rosie Driscoll


 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
DISKZGGKRFNGFZM ]]>
TwitterFacebookLinkedIn