Palace Capital PLC AGM Statement (3028F)
12 Julio 2019 - 1:00AM
UK Regulatory
TIDMPCA
RNS Number : 3028F
Palace Capital PLC
12 July 2019
12 July 2019
Palace Capital plc
("Palace Capital" or the "Company")
AGM Statement
Ahead of its AGM later today, Palace Capital, the Main Market
listed property investment company that has a diversified portfolio
of UK regional commercial real estate in carefully selected
locations outside of London, provides the following short update on
its Hudson Quarter development in York:
As indicated in the Company's Full Year Results announcement,
the Hudson Quarter scheme was formally launched on 20 June 2019,
with an initial 20 apartments offered for sale. Interest has been
stronger than expected, reflecting the quality of the product and
the buoyancy of the York market. 22 apartments, with an aggregate
purchase price of GBP5.8 million, have now been reserved with
deposits paid. The launch of the second phase is under
consideration and Palace Capital looks forward to updating
shareholders in due course.
Construction is currently on time and on budget, with completion
expected in early 2021.
For further information, contact:
FTI Consulting (Financial PR)
Claire Turvey / Methuselah Tanyanyiwa
palacecapital@fticonsulting.com
Tel. +44 (0)20 3727 1000
About Palace Capital plc (www.palacecapitalplc.com):
Palace Capital plc (LSE: PCA) is a Main Market listed property
investment company that has a c. GBP280 million diversified
portfolio of UK regional commercial property. The Company maintains
a disciplined investment strategy focused on towns and cities
outside of London that are characterised by thriving local
economies and strengthening fundamentals. Within those locations,
the highly experienced management team selects assets that provide
opportunity to drive both capital value and long-term rental income
through tailored active asset management programmes, ultimately
delivering attractive shareholder returns.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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