Shares in AIM-listed investor Circle Property were the sharpest-rising real estate stock of the session on Monday after the company announced it has sold its largest asset and will push ahead with disposals and returning capital to investors.
The company said this morning that it has agreed to sell Kents Hill Park Conference Centre in Milton Keynes for £34.5m and will now focus on making “targeted asset sales in an orderly manner over an extended period of two to three years, if not sooner”.
Marketing is under way on two offices in Northampton, part of the company’s 10-asset, £76m portfolio.
Circle’s shares ended the session up by 10.2% at 226p, their highest since February 2020. The gain stood out in the market given that the next best-performing real stock was Caledonian Trust, up just 2.26%.
Most real estate shares followed the market down as concerns mount over tensions in Russia and Ukraine, with London and other European markets trading down. The FTSE 100 finished the day at 7,531, a fall of 1.7%, with a near-2% drop for the FTSE 250 at 21,617.
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