Palace Capital has sold its entire stake in Circle Property for just under £3.2m.
The listed property investment company, which focuses on office and industrial properties outside London, had previously held a 5% stake in the AIM-listed, Jersey-based Circle. It has now sold its 1,592,500 shares for 200p per share.
Palace chief executive Neil Sinclair said: “Our investment has delivered a total return of 8.6% and we have taken the decision to exit now as part of our strategy to recycle capital into higher growth opportunities as part of our acquisition programme.”
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