Exchange rate on foreign transactions

I have bought a property at 110k EUR in 2008 and subsequently sold it for 84k EUR in 2023. In order to work out my capital gain / losses should I: 1) convert 110k into GBP at the 2008 exchange rate and convert 84k into GBP at the 2023 exchange rate and then work out the difference between the two OR 2) work out my EUR capital loss as 110k - 84k = 26k EUR and then convert this figure into GBP at the 2023 exchange rate? Thank you

Hi piemmepi,
In response to your question- it is option 1.
Thank you.