LONDON (Alliance News) - Palace Capital PLC on Thursday said it has refinanced the existing loan facility for its Broad Street Plaza property in Halifax, West Yorkshire.
Palace, which invests in commercial property outside of London, said it has secured a new ten-year fixed rate loan of GBP15.25 million, carrying a 2.9% interest rate, from Scottish Widows.
"This is excellent news for the company. As we expand the scale of our portfolio, we are diversifying our funding platform and we have received a significant amount of long-term support from major lending partners," said Palace Chief Executive Neil Sinclair.
Palace shares were untraded on Thursday, having last traded at 312.00 pence.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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Palace Capital (PCA)