Circle Property has recorded a 19.7% uplift in the value of its portfolio in the 12 months to 31 March following an independent valuation.
The increase is largely the result of the company’s ongoing asset management programme.
The developer, which focuses on regional offices, said that following a 16.3% uplift in portfolio valuation in the first half, there was a further 4.4% increase in valuation to £93m from £89.1m in the second half, at 30 September 2016.
Chief executive John Arnold said: “To have achieved such a increase in valuations, largely through active asset management rather than through acquisitions or yield compression, is an endorsement of not only the level of expertise offered by our team, but also of the value inherent in our portfolio of regional UK properties.
“Our focus remains on understanding the requirements of occupiers in these key and undersupplied regional business markets, such as Birmingham and Milton Keynes, and delivering space that meets this demand.
“We continue to progress both our redevelopment and refurbishment pipeline as we look to lease the new space that we have created and to acquire new assets while undertaking strategic disposals of non-core and ex-growth assets.”
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