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Pin to quick picksPalace Capital Share News (PCA)

Share Price Information for Palace Capital (PCA)

London Stock Exchange
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Share Price: 240.00
Bid: 235.00
Ask: 250.00
Change: -4.00 (-1.64%)
Spread: 15.00 (6.383%)
Open: 240.00
High: 240.00
Low: 240.00
Prev. Close: 244.00
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Palace Capital makes 'substantial progress' in first year on main market

Thu, 02nd May 2019 08:15

(Sharecast News) - Property investment outfit Palace Capital told investors on Thursday that it had made "substantial progress" in its first full year on the London Stock Exchange's main market, leaving it "very positive" about its prospects.Throughout the year, Palace disposed of 50 residential units to Barnet Council for £18.2m and acquired 1 Derby Square, Liverpool for £14m in December, producing £1m in annual income with "considerable reversionary potential".Palace also undertook 37 lease and rent reviews in the year and, as a result, now generates a total of £3.4m from rent per annum - a significant uplift on its previous passing rents of £800,000.The AIM-listed firm also inked a building contract and secured a £26.5m facility with Barclays for its Hudson Quarter development in York.Looking forward, Palace intends to use its a "strong cash position" along with unutilised debt facilities to fund its refurbishment and development projects and provide it with capacity for future acquisitions.Chief executive Neil Sinclair said: "Palace Capital is making substantial progress across the portfolio, notwithstanding the uncertain environment."During the year we took the strategic decision to hold back on letting some of our vacant space where we see the opportunity to drive value and income potential through refurbishment or redevelopment. While this means that our adjusted profits are likely to be slightly below expectations for the financial year ended 31 March 2019, it will enable us to further improve our portfolio of high quality, income producing properties that are let to first class tenants."As of 1250 BST, Palace Capital shares were down 3.15% at 276.02p.
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28 Jan 2019 12:08

Palace Capital Hires Former Teesland CEO Wilson As Non-Exec Director

LONDON (Alliance News) - Palace Capital PLC on Monday said it has appointed Mickola Wilson as a non-executive director from Friday.The property investment company said Wilson is currently a

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24 Dec 2018 07:46

Palace Capital buys One Derby Square in Liverpool for £14m

(Sharecast News) - Palace Capital said on Monday that it has bought the freehold interest of One Derby Square in Liverpool for £14m, reflecting a 6.75% net initial yield.

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26 Nov 2018 13:20

Palace Capital shrugs off 'uncertain times' as income jumps

(Sharecast News) - Property firm Palace Capital insisted there would be further investment opportunities this year, despite the current "uncertain" climate, as it posted a jump in first-half income and profits.

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26 Nov 2018 10:13

Palace Capital Profit And Income Rises On Higher Portfolio Value

LONDON (Alliance News) - Palace Capital PLC said on Monday saw an improved interim profit and rental income on a higher portfolio value for the period.The London-focused commercial property

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23 Nov 2018 10:56

Palace Capital selling 50 flats to Barnet council

(Sharecast News) - Property investment company Palace Capital has exchanged contracts to sell 50 residential units for a total consideration of £18.2m, it announced on Friday, reflecting 97% of their book value, to the London Borough of Barnet.

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23 Nov 2018 10:42

Palace Capital Agrees To Sell 50 Residential Units For GBP18 Million

LONDON (Alliance News) - Palace Capital PLC on Friday said it agreed to sell 50 residential units for GBP18.2 million to the London Borough of Barnet.The 50 residential units, which are all

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11 Jun 2018 11:27

Palace Capital Lifts Dividend 3% As Total Net Asset Value Rises 70%

LONDON (Alliance News) - Palace Capital PLC said Monday that its annual net asset value rose strongly in its recent financial year, but NAV per share was reduced after a GBP70 million equity raise

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7 Mar 2018 14:16

Palace Capital Hedges Further Against Possible Interest Rate Rise

LONDON (Alliance News) - Property investor Palace Capital PLC said Wednesday it has entered extra hedging facilities worth GBP55.8 million to mitigate future of

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19 Jan 2017 08:17

Palace Capital Lets 13 Flats In Kent To Dartford Borough Council

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16 Dec 2016 09:33

Palace Capital Secures Lease Extension In Essex With Rockwell

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16 Dec 2016 08:33

Palace Capital extends lease on Essex property by 10 years

(ShareCast News) - Property investment firm Palace Capital has extended its lease by 10 years on a property in Maldon, Essex with Rockwell Automation. The ICS buildings, which comprise of a 75,000 square feet warehouse and office building, were let to Rockwell Automation until June 2017 at a rental

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21 Nov 2016 12:54

Palace Capital hikes dividend as H1 pre-tax profit falls

(ShareCast News) - Property investment company Palace Capital has hiked its first-half dividend by almost a third as it posted a much-reduced pre-tax profit for the period. Interim dividend was up 29% to 9p a share, from 7p. Pre-tax profit came in at £3.9m, from £7.6m. Net asset value per share was

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21 Nov 2016 09:08

Palace Capital Says Brexit Is "London-Focused Issue" After Strong Half

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2 Nov 2016 08:29

Palace Capital Notes Progress Made To Improve Portfolio Rental Income

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22 Aug 2016 12:04

Palace Capital completes Manchester property buy

(ShareCast News) - Palace Capital has completed the net £10.58m acquisition of Boulton House in Manchester, and is looking to improve the net yield it receives from rental income through refurbishing some of the building. It added that a £6.02m new debt facility had been secured with Santander. Matu

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