Circle Property PLC (LON:CRC)

Circle Property PLC (LON:CRC)


Share Price
204.00 p
Change
0 (0.00 %)
Market Cap
£58.25 m
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Circle Property PLC

Circle Property Plc is a specialist property investment company, registered in Jersey with its shares being quoted on AIM. The company acquires provincial office properties where it can add value by undertaking lease renewals, rent reviews, lettings and refurbishments.

EPIC: CRC
Market: LSE:CRC
52-week High/Low: 240.000p / 180.000p
Sector: Real Estate Holding & Development
Market Cap: £58.25 m
Website: www.circleproperty.co.uk
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Big Picture – A Deep Dive Examination of Circle Property PLC


Circle Property PLC Snapshot

STRATEGY

Circle seeks to acquire short let provincial office properties requiring improvement. We will purchase empty buildings where the letting prospects are sufficiently strong. By undertaking refurbishment and lettings, we seek to add value and so maximise returns to shareholders.

OUR SITES

Key portfolio stats

The c£93m portfolio comprises 11 regional offices and 4 smaller retail and industrial assets.

The portfolio produces £4.366m income per annum.

The current dividend yield is approximately 3% per annum but with a progressive dividend policy, it is expected that the dividend should increase broadly in line with the rental income.+

 

Please click here to view the London site

Please click here to view the East of England site

Please click here to view the East Midlands site

Please click here to view the South East site

Please click here to view the South West site

Please click here to view the West Midlands site

Please click here to view the North West site

Please click here to view the Yorkshire site

 

PROPERTY INVESTMENT REQUIREMENTS FOR AGENTS

Property agents are invaluable to us which is why we are committed to the following principles:

  • Agent loyalty, to build trust and partnership;
  • Full fees paid promptly on completion;
  • Agents reinstructed where possible;
  • Part agency participation, to enable sharing of the potential rewards;
  • Management instruction where possible.

Property investments requirements

Circle has substantial funds to invest in properties offering a mixture of the following criteria:

Single assets

  • Well located provincial offices in city centers or business parks located throughout the United Kingdom;
  • Short dated leases, vacant or part vacant properties;
  • Rent reviews within next 2 years or outstanding reviews;
  • Imminent break options or future break options within the next 2 years;
  • Tenants out of occupation;
  • Weak / non bankable covenants as tenants in good quality buildings;
  • Office development opportunities; either sites, options or partially completed schemes where the location justifies the risk.

Portfolios

  • Well located provincial office properties;
  • Part secure income / part vacant or short let income;
  • Portfolio value £ no upper limit.

Please note that Joint Ventures with developers, land owners, occupiers or agents are welcome, particularly in respect of off-market opportunities where generous profit sharing arrangements are available.

John Arnold
Direct Line – 020 7389 9090
Mobile – 07768 933536
Email – [email protected]

Edward Olins
Direct Line – 020 7389 9091
Mobile – 07956 519489
Email – [email protected]

John Arnold, Chief Executive

Mr Arnold left St Quintin Chartered Surveyors (now CBRE) after seven years in the management department and joined Hambros plc in January 1986. He became a Director of Berkeley Hambro plc, its property subsidiary, in 1991, where he remained until Investec’s acquisition of Hambros Bank in 1998, when he was appointed Managing Director of Investec Property plc. He left Investec at the end of 1999 and founded Circle in April 2002. Mr Arnold is a Fellow of The Royal Institution of Chartered Surveyors.

Edward Olins, Chief Operating Officer

Mr Olins joined DE & J Levy LLP as a graduate surveyor and became a salaried partner in 2000. He left the partnership in 2003 to join London & County Estates Limited as Investment Director. In 2006, he joined Circle to take control of new business acquisitions and assist Mr Arnold in the running of the Company. Mr Olins is a Member of The Royal Institution of Chartered Surveyors.

Ian Henderson, Non-Executive Chairman

Mr Henderson is a consultant to Capital & Counties Properties plc, Dolphin Square Foundation and The Natural History Museum. Mr Henderson was formerly Chief Executive of Land Securities Group plc and has been widely involved in the UK property industry, including being a past president of the British Property Federation. Mr Henderson is a Fellow of The Royal Institution of Chartered Surveyors.

 

For information on Non-Executive Directors, please click here

Name of Shareholder Number of Ordinary Shares Percentage of total
Judith Bodie (1) 911,620 3.19
Mary Christine Hambro 993,655 3.48
The Butterfly Trust (2) 993,656 3.48
Charles Robert Henry Stone (3) 945,560 3.31
Andrew Jonathan Stone (4) 1,195,560 4.19
Nicola Jane Farquhar (5) 945,560 3.31
Hastings Limited 3,682,307 12.90
Richard Moore 1,394,326 4.88
Hendref Limited 2,500,000 8.76
David Jeffrey Fisher 1,658,268 5.81
The Third Earl of Halifax 2004
Discretionary Trust (6)
1,155,314 4.05
Delta Securities Holdings Limited 1,000,000 3.50

(1) Judith Bodie is the wife of John Bodie, a CPML Shareholder. In addition to the 896,193 Ordinary Shares held by Judith Bodie, 15,427 Ordinary Shares are held by John Bodie. Their combined interest is 911,620 Ordinary Shares, representing 3.25 per cent. of the issued Share Capital.

(2) The shares are held by Bartholomew Peerless and Clementine Fraser as trustees of The Butterfly Trust.

(3) 695,560 Ordinary Shares are held by Charles Robert Henry Stone and Gracia Victoria Stone as Trustees of The Charles and Gracia Stone’s Children’s Trust. Their combined interest is 945,560 Ordinary Shares, representing 3.37 per cent. of the issued Share Capital.

(4) 695,560 Ordinary Shares are held by Andrew Jonathan Stone and Marina Frances Stone as Trustees of The Andrew and Marina Stone Children’s Trust. Their combined interest is 1,195,560 Ordinary Shares, representing 4.27 per cent. of the issued Share Capital.

(5) 695,560 Ordinary Shares are held by Nicola Jane Farquhar and Edward Peter Henry Farquhar as Trustees of The Nicola and Edward Farquhar Children’s Trust. Their combined interest is 945,560 Ordinary Shares, representing 3.37 per cent. of the issued Share Capital.

(6) The shares are held by Ian Hamish Leslie Melville, William Matthew Wrigley and Edward Anthony Egerton Hoskins-Abrahall as trustees of the Third Earl of Halifax 2004 Discretionary Trust.

REGISTERED OFFICE

Circle Property Plc

c/o Consortia Partnership Limited
3rd floor
Standard Bank House
47-49 La Motte Street
St Helier
Jersey, JE2 4SZ
Tel: 01534 834 600

REPRESENTATIVE OFFICE

Circle Property Plc

15 Duke Street
St James’s
London SW1Y 6DB
Tel: 0207 930 8503

Company Secretary Consortia Secretaries Limited
Registered Office 3rd Floor
Standard Bank House
47-49 La Motte Street
St Helier
Jersey JE2 4SZ
Channel Islands
Phone: +44 (0)1534 834 600
Nominated Adviser and Broker Peel Hunt LLP
Moor House
120 London Wall
London EC2Y 5ET
United Kingdom
Property Valuer Savills Advisory Services Limited
33 Margaret Street
London W1G 0JD
United Kingdom
Reporting Accountants and Auditors to the Company KPMG Channel Islands Limited
37 Esplanade
St Helier
Jersey JE4 8WQ
Channel Islands
Legal Advisers to the Company (as to English law) Charles Russell Speechlys LLP
5 Fleet Place
London EC4M 7RD
United Kingdom
Legal Advisers to the Company (as to Jersey law) Pinel Advocates
32 Commercial Street
St Helier
Jersey JE2 3RU
Channel Islands

 

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