leadf
logo-loader
viewCircle Property PLC

Circle Property unveils two new lettings at Concorde Park in Maidenhead

Office group Regus has taken a 10-year lease on 16,861 square feet, while supply chain specialist Avetta has committed to a five-year lease for 4,600 sq ft

Circle Property PLC - Circle Property unveils two new lettings at Concorde Park in Maidenhead
Circle acquired Concorde Park in August for £14.6mln

Circle Property PLC (LON:CRC) has unveiled two new lettings at the Concorde Park in Maidenhead, the first since the firm acquired the park in August.

The AIM-listed group, which invests in regional office assets across the UK, said the office group Regus had taken a 10-year lease on 16,861 square feet on the first floor of buildings two and three, which will open in 2020.

WATCH: Circle Property on track for 'industry-leading NAV growth'

Additionally, supply chain specialist Avetta has committed to a five-year lease for 4,600 sq ft on the ground floor of building one.

"We are pleased to have secured these lettings so soon after the acquisition of the park, adding significant value to the asset on behalf of our shareholders and continuing our active asset management strategy", said Circle’s chief operating officer Edward Olins.

Circle acquired to 71,500 sq ft park for £14.6mln, giving it a net initial yield of 4.03% with a potential reversionary yield of 9.8% once it is fully let.

Quick facts: Circle Property PLC

Price: 150 GBX

LSE:CRC
Market: LSE
Market Cap: £42.83 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Circle Property PLC named herein, including the promotion by the Company of Circle Property PLC in any Content on the Site, the Company...

FOR OUR FULL DISCLAIMER CLICK HERE

Circle Property's John Arnold hoping for another year of NAV growth

Circle Property PLC's (LON:CRC) John Arnold speaks to Proactive after announcing they've recorded their fourth successive year of growth in its net asset value (NAV). The regional offices specialist revealed that its NAV per share rose by 3% to 285p at the end of March 2020 from 277p a year...

1 day, 7 hours ago

2 min read