Property Investment & Development News

Town Centre Redevelopment Site, 69 - 77 Week Street, Maidstone – April 2010
Circle Property Unit Trust has acquired the former House of Fraser Department Store on Week Street, Maidstone. This town centre redevelopment site has planning permission for a food retail unit on ground floor with three floors of affordable apartments above.

55 High Street, Kings Lynn purchased for £1.12m – April 2010
Circle Property Unit Trust has acquired the freehold interest in 55 High Street, Kings Lynn for £1.12m reflecting a net initial yield 8%. The property is let to Phones 4 U until October 2013 and has excellent lease renewal / reletting prospects.

Longcroft House, 2/8 Victoria Avenue, London EC2 purchased for £5.5m – December 2009
Circle Property Unit Trust has acquired the freehold interest in Longcroft House, 2/8 Victoria Avenue, London EC2 for £5.5m reflecting a net initial yield 7%. The property is let to Royal Bank of Scotland until December 2012 after which it will be refurbished. The building has good reletting prospects at an improved rent.

Building 300, Pavilion Drive, Northampton Business Park purchased for £4m – May 2009
Circle Property Unit Trust has acquired the freehold interest in Building 300, Pavilion Drive, Northampton Business Park, Northampton for £4m reflecting a net initial yield 14.15%. The property is multi let to national tenants which include Grant Thornton, Aviva and Ricoh.

Chapel Lane, Great Blakenham, Suffolk purchased for £1.325M - May 2008
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 part let and offers scope for rental growth.

Workzone, Innova Business Park, Enfield – March 2008
Circle Property Unit Trust has sold Workzone, Innova Business Park to an owner occupier for £4.35m.

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 4½ 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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