Circle Property - A strong harvest continues
Circle actively manages its assets, placing an emphasis on total returns rather than short-term income maximisation. With three significant office refurbishments recently completed and in various stages of letting, it continues to harvest the benefit in terms of rising income and capital values, supporting growing dividends and NAV. FY18 NAV total return was 28.3% and, since the February 2016 IPO, the compound annual total return has been 26.2% pa. With a positive supply–demand balance in regional office markets continuing, we believe there are more gains to come.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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