Palace Capital - Confidently reinstating DPS
Palace Capital (PCA) reported FY20 adjusted PBT in line with expectations while COVID-19 contributed to end-year negative unrealised valuation movements. With robust rent collection to date, PCA has shown its confidence by re-instating DPS payments. While market conditions are challenging, PCA benefits from refurbished properties that are available to let and continued progress at Hudson Quarter where 25% of apartments have been pre-sold ahead of the expected March 2021 completion.Palace Capital is a property investment company that focuses on commercial real estate outside London. Co. invests in refurbishment and capital development programmes within the existing portfolio to unlock capital growth, as well as invests in commercial real estate in the U.K. Co.'s property portfolio includes investment properties located throughout England, predominantly regional investments outside London and comprises a diverse portfolio of commercial buildings.
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