The following amendment has been made to the announcement released on 1 September 2021 at 7.00am under RNS No 3051K.

The reference to Boultbee LDN Capital Ltd as buyer was incorrect and has been corrected in the text below to Boultbee Brooks (Castle Park) Limited c/o Boultbee Brooks Real Estate.

All other details remain unchanged.

1 September 2021

Circle Property Plc

("Circle" or the "Company")

Disposal of One Castle Park, Bristol for £20 million

Circle Property Plc (AIM: CRC), which invests in, develops and actively manages well-located regional office assets, is pleased to announce that it has exchanged contracts to sell One Castle Park, Bristol to Boultbee Brooks (Castle Park) Limited c/o Boultbee Brooks Real Estate.

The sale price of £20 million represents a 3.9% increase on the 31 March 2021 valuation of £19.25 million, with completion expected to take place on 16 December 2021. The investment property was acquired by the Company in November 2012 for £4.165 million.

One Castle Park, Bristol, comprises a refurbished multi-let city centre office building providing 79,359 sq ft of accommodation with a weighted unexpired lease term of 3.3 years to expiry and total rent passing of £999,543 per annum (£16.42 psf overall). The profit before tax for the year ending 31 March 2021 attributable to One Castle Park was £0.65 million.

The cash proceeds from the sale (subject to completion) will be utilised, in line with previous announcements, to reduce the Company's gearing from the current level. The Company has a number of assets that have benefited from an active management approach where considerable value has been added following redevelopment, lease restructures or renewals.

Further announcements, will be made, as appropriate.

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the UK version of the EU Market Abuse Regulation (2014/596) which is part of UK law by virtue of the European Union (Withdrawal) Act 2018, as amended and supplemented from time to time.

About Circle Property Plc

Circle is amongst the best performing quoted UK real estate companies having delivered 84% NAV growth and a 105% total return (NAV growth and dividends) since IPO in 2016.

Circle focusses on acquiring assets in regional cities, many of which have significant office supply constraints, and on office assets with active management potential (refurbishment opportunities, under-rented or vacant properties or short leases), rather than just maximising initial rental yields.

Circle is not a Real Estate Investment Trust (REIT) and can actively recycle proceeds from asset sales into its refurbishment and redevelopment pipeline, as well as future investment opportunities, therefore targeting a broader range of returns for shareholders, which are primarily driven by NAV growth.

As well as already delivering substantial increases in NAV, the Company's portfolio has significant reversionary potential with current total estimated rental values of £10.92 million per annum, compared to contracted rent of £8.70 million at 31 March 2020. The Company has a portfolio of 13 regional commercial property investment and development assets in the UK valued at £132.15 million as at 31 March 2021.

*  valuation figures stated after deducting the value of Power House, Davy Avenue, Milton Keynes (being £3.3 million as at 31 March 2020 and £3.25 million as at 30 September 2020) which was sold by the Company for £3.55 million in March 2021.