Circle Property (CRC)

Business description

Circle Property is an AIM-quoted property investment company focused on UK office buildings outside London. It seeks to increase capital value by refurbishing and re-leasing assets in areas with high demand, and has a progressive dividend policy.

Stock data

Market cap.£44.4m
Last close155.50p
High / Low (52 weeks)157.0p / 148.0p
Stock market listingLN
Forecast net debt (£m)43.2
Forecast gearing ratio (%)83
TeamInvestment Companies
SectorInvestment Companies

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Y/E Mar Revenue (£m) EBITDA (£m) PBT (£m) EPS (fd) (p) P/E (x) P/CF (x)
2016A 1.3 0.8 1.1 0.0 N/A 79.9
2017A 5.4 2.3 10.0 5.4 28.8 N/A
2018E 5.9 1.8 1.8 2.7 57.6 21.7
2019E 6.7 2.5 3.4 5.0 31.1 15.1

Last updated on 08/09/2017

Latest research

Investment summary

Circle Property is an investor in regional UK commercial real estate, founded in 2002 and quoted on AIM since February 2016. It focuses on obtaining assets with good underlying characteristics at attractive prices, whose value can be increased through refurbishment, changes of use and other active asset management initiatives. The experienced executive team takes a hands-on approach and develops an individual management plan for each asset, minimising voids and maximising income and value. The current portfolio of £93m generates annual rents of £5.7m, supporting a c 3% prospective dividend yield, and gave an 18.1% NAV return in FY17.

Last updated on 04/09/2017

Key management

John Arnold, Chief Executive
Edward Olins , Chief Operating Officer

Company address

c/o Consortia Partnership Limited
Standard Bank House, 47-49 La Motte Street, Jersey
JE2 4SZ
United Kingdom
02079308503
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