In June 2015 Palace Capital acquired the Sol Centre for £20.7m, on an initial yield of 8.86%. The centre is anchored by a 10 screen Vue cinema and a 151 bed Ibis hotel and is let on long leases (WAULT of 13.5 years) to good covenants. However, 2 units on parts of the ground, mezzanine and first floors totalling 27,917 sq ft, originally let to Gala Casinos and another unit let to a pub operator are unoccupied and there are no restaurants at the centre, providing a major opportunity to re
26 Aug 2015
£3.8m Casino Payout!
Sign up to access
Get access to our full offering from over 30 providers
Get access to our full offering from over 30 providers
£3.8m Casino Payout!
Palace Capital plc (PCA:LON) | 240 19.2 3.5% | Mkt Cap: 90.0m
- Published:
26 Aug 2015 -
Author:
Chris Thomas -
Pages:
3
In June 2015 Palace Capital acquired the Sol Centre for £20.7m, on an initial yield of 8.86%. The centre is anchored by a 10 screen Vue cinema and a 151 bed Ibis hotel and is let on long leases (WAULT of 13.5 years) to good covenants. However, 2 units on parts of the ground, mezzanine and first floors totalling 27,917 sq ft, originally let to Gala Casinos and another unit let to a pub operator are unoccupied and there are no restaurants at the centre, providing a major opportunity to re