REG - Circle Property PLC - Final Disposal - 300 Pavilion Drive, Northampton

Circle PropertyAnnouncement

04/05/2023 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20230504:nRSD3425Ya&default-theme=true

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                                   +44 (0)20 3897 1830

 Joshua Cryer

 Iain Daly

 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 (mailto:rns@lseg.com)
 or visit
www.rns.com (http://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 (https://www.lseg.com/privacy-and-cookie-policy)
.   END  DISKZGGKRFNGFZM