LONDON (Alliance News) - Palace Capital PLC on Thursday said it has agreed a new GBP26.5 million secured loan facility to fund the Hudson Quarter development.
The property investor signed the new loan with Barclays Bank PLC.
The facility will be used, alongside the firm's existing cash resources, to part finance the mixed-use development of Hudson Quarter in York.
The project consists of 127 residential apartments, 34,500 square feet of offices, 5,000 square feet of commercial space and a car parking in central York.
Construction on the site is expected to commence this month with completion in early 2021.
Palace Capital shares were untraded on Thursday, last quoted at a price of 310 pence each.
Barclays (BARC)
Palace Capital (PCA)