Simon Thompson 

First Property posts eye-watering valuation gains

Simon Thompson

Simon Thompson

Aim-traded UK and eastern European property fund manager and investor First Property (FPO:53p) pulled off what I considered to be the property deal of the year in the summer (‘Profit from the deal of the year’, 14 Jun 2018). I wasn’t exaggerating as First Property’s EPRA net asset value (NAV) increased by 12.5 per cent to £70.9m, a sum worth 62.2p a share, in the six months to the end of September 2018. I expect further uplifts in the future, too.

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