News

Circle receives over £10M of additional equity from investors.
Circle has successfully raised over £10M of new equity from existing and new investors which together with further borrowings will allow the gross value of the fund to substantially increase. When fully invested, it is expected that total property and cash under management will approach £100M.

Chapel Lane, Great Blakenham, Suffolk purchased for £1.325M - May 2008
This reflects a net initial yield of 8.1% net. In April 2008, Circle Property Unit Trust acquired the freehold interest of this 50,000 sq ft industrial / warehouse unit. The property is located on the A14, the main arterial route between Ipswich to Bury St Edmunds. The property is let to two tenants and is considered to be highly reversionary.

Circle buys industrial units in Gloucester – 21st June 2007
Circle Property Unit Trust has acquired Units 1-3 Athena, Olympus Business Park, Gloucester for £2.6m. The entire 39,750 sq ft industrial building was purchased vacant and subsequently let to the Toyota Tsusho Corporation for a term of 17 ½ years.

Circle goes to work in Enfield – 18th May 2007
Circle Property Unit Trust has acquired Workzone, Innova Park, Enfield for £2.95m. The 20,000 sq ft office building is part vacant and part let on a combination of leases and licences.

Circle digs deep in Winchester, Southampton, Portsmouth, Andover 20th March 2007
Circle Property Unit Trust has purchased a portfolio of plant yards let to GE Capital Plant & Equipment Services Limited for £2.225M reflecting a net initial yield of 7%. The properties have an unexpired term of 4 ½ years and are medium term development sites.

The Duke of Roxburghe joins CPML board – 1st January 2007
We are pleased to announce that The Duke of Roxburghe has agreed to join the board of Circle Property Management Limited.

Circle sells Barnsley Retail Park – 22nd December 2006
Barnsley Retail Park, Twibell Street, Barnsley was sold to Peel Developments for £7m reflecting a net initial yield of 4.25%. The property was let to MFI and Comet with an average unexpired term of 9.5 years.

Circle goes Christmas Shopping in Shipley – 22nd December 2006
Circle Property Unit Trust has purchased Baildon Bridge Retail Park, Shipley for £5.95m reflecting a net initial yield of 5.75%. The property is let to Focus DIY, Motor World and Oddbins.

Circle continues to head north – 2nd November 2006
Circle Property Unit Trust has purchased Fairbank House, Regent Road, Salford for £1m reflecting a net initial yield of 7%. The property is let to BSS Group Plc for a further 3 years.

Circle goes off-shore – 18th October 2006
All property assets owned by Circle Limited Partnership have been transferred to Jersey where Circle Property Unit Trust has now taken over responsibility for all investment and management business. Circle Property Management Limited remains in London as the Trust’s sole UK advisers.

Planning Permission granted on Stretford Road, Manchester – Volkswagen Group (UK) Ltd sign 25 year FRI lease – 14th October 2006
Planning permission has been granted for the change of use from motor showroom to workshop premises. The 25,000 sq ft unit has been let to Volkswagen Group (UK) Limited on a FRI lease for a term of 25 years.

Circle returns to Milton Keynes – 9th September 2006
Following on the heels of our recent sale of Omron House, Fox Milne, Milton Keynes, Circle has purchased Power House, Knowhill, Milton Keynes for £4.6m reflecting a net initial yield of 7%. The 20,000 sq ft office building is let to two tenants, Kimbells Solicitors (head office) and IBM.

Performance Update – Circle delivers again – 31st March 2006
Investors were delighted when the Circle Fund reported a storming 42.61% return which was more than double the IPD annual ‘All Property Return’ of 20.90% for the same period. Several investors announced that they would like to invest more equity with Circle.

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