Circle Property - 21% total return in H1 continues strong growth
In the six months ending 30 September 2018 (H119) Circle Property continued to generate strong returns. The 21.1% H119 NAV total return takes the total return since IPO in February 2016 to 93%, a compound annual average 29.0%. Current returns reflect the benefits, in terms of rising income and capital values, of letting recently refurbished space. We forecast more gains to come from the existing portfolio, while management is seeking to replenish the refurbishment pipeline.Circle Property is a regional office investment and development company operating throughout the United Kingdom. Co.'s portfolio consists of 16 commercial property investments and developments in the UK with a value of £77.73m. All of the properties are held by Circle Property UnitT Trust and/or the Jersey Subsidiaries. The portfolio totals approximately 640,148 sq. ft. of accommodation, the majority of which, by floor area, is in the office sector. The portfolio floor area by sector are office, retail, warehouse, retail warehouse, roadside, conference facility and others.
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