Hardman Co - Palace Capital (PCA) Palace Capital (PCA): Encouraging full-year results

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Hardman & Co

Mike Foster

Palace Capital (PCA): Encouraging full-year results

The healthy liquidity position of Palace Capital takes risks down to a modest level, as does the overweight to regional offices and minimal shops. The Hudson Quarter mixed-development site is selling well, and profitability remains at appraisal levels. Hudson Quarter is within the York city walls, has been selling well and is a material positive, set to generate approaching Â£70m cash for recycling investment. The current returns from this count for zero in reported numbers or forward estimates this year. Even after having devoted significant resource to this successful site, the income yield is above the market average, and with below-market risk.

14/07/2020 17 EN

Underlying

Palace Capital

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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GB00BF5SGF06 London Stock Exchange United Kingdom

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Hardman & Co

We are a rapidly growing, innovative corporate research & consultancy business, based in London, serving the needs of both public and private companies.

Our expert team of sector analysts and market professionals collectively have over 400 years of experience. This depth of knowledge and a reputation for integrity have built trust with investors. With effective communication and precision distribution, we help companies disseminate their investment message to interested investors, as well as advise them on strategy.

Our smaller, boutique structure allows us to provide first-class customer service and to deliver a wide range of ad-hoc services for multiple clients with different needs.

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Analysts

Mike Foster

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