Simon Thompson 

Bargain basement property play

Simon Thompson

Simon Thompson

The deconsolidation of Aim-traded UK and eastern European property fund manager and investor First Property’s (FPO:39.5p) shareholding in Fprop Opportunities, the owner of five high-yielding commercial properties in Poland, slightly complicates the company’s latest half-year results. That’s because First Property now holds a 40 per cent stake in Fprop Opportunities, which means that investment is treated as an associate, thus skewing comparisons for year-on-year results.

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