Circle Property PLC Disposal of Victory House, Northampton (7338N)
January 24 2023 - 11:25AM
UK Regulatory
TIDMCRC
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
GBP2.75 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 GBP1.70
million. Profit before tax for the year ended 31 March 2022
attributable to Victory House was GBP0.270 million and the 31 March
2022 valuation was GBP3.20 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.
+44 (0)20 7930
Circle Property Plc 8503
John Arnold, CEO
Edward Olins, COO
+44 (0)20 7397
Cenkos Securities plc 8900
Katy Birkin
George Lawson
Radnor Capital
Joshua Cryer +44 (0)20 3897
Iain Daly 1830
+44 (0)20 3757
Camarco 4992
Ginny Pulbrook
Toby Strong
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END
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