Disposal of Victory House, Northampton

RNS Number : 7338N

Circle Property PLC

24 January 2023

 

24 January 2023

Circle Property Plc

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

Disposal of Victory House, Northampton

Circle Property Plc (AIM: CRC), is pleased to announce, in line with its disposal strategy, that it has exchanged contracts on the sale of Victory House, 400 Pavilion Drive, Northampton ("Victory House") to Hilla Group Northampton Limited at a sale price of £2.75 million. Completion is expected by mid-March 2023.

Victory House comprises a 22,300 sq ft (2.072 sq m) office building that was acquired by the Group in 2011 for £1.70 million. Profit before tax for the year ended 31 March 2022 attributable to Victory House was £0.270 million and the 31 March 2022 valuation was £3.20 million.

Following completion, the net proceeds from the disposal will be held as Group cash and are expected to be returned to Shareholders through the proposed B Shares Issues as announced by the Company on 20 January 2023, the first of which is expected to occur in March 2023.

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	[phone]
John Arnold, CEO Edward Olins, COO
Cenkos Securities plc	[phone]
Katy Birkin George Lawson Radnor Capital Joshua Cryer Iain Daly	[phone]
Camarco	[phone]
Ginny Pulbrook Toby Strong

 

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