We will be hosting a webinar on Hardman Talks featuring Neil Sinclair and Stephen Silvester of Palace Capital, hosted by Mike Foster of Hardman & Co.
Neil and Stephen will be discussing regional rental growth, the company’s development plans and the recent results, live on Zoom at 3pm on Tuesday 22 June 2021. Sign up now for your place.
As experts in regional property, Palace Capital operates on a total return basis and offers investors both income and capital growth. The company believes it can achieve higher rental growth in regions outside London. Targeted property development in attractive locations such as the Hudson Quarter in York delivers capital growth, boosting returns. With properties located in key growth areas in the UK, such as university towns and cities with good infrastructure, the outlook remains positive.
Over the pandemic the company has focused on rent collection, which has been in excess of 95% over the year, and has enabled Palace Capital to pay successive quarterly dividends since July 2020. The flagship Hudson Quarter development was completed on time and within budget and the forecast return when fully sold, will increase NAV by 5%. The medium-term development pipeline is strong, providing future upside. The ongoing disposal of non-core assets has continued, with sales at a premium to book value.
Whilst the shares have recovered from lows, they are still some considerable way off pre-pandemic levels. A sustained recovery in the UK and the government focus on regional development leaves Palace Capital well positioned for the near and medium term.
You can send us your questions when you register or during the presentation.
Read our latest report on Palace Capital Plc here.