Palace Capital has exchanged contracts to buy Bank House in the centre of Leeds for a cash consideration of £10 million. The building comprises a net floor area of 88,000 sq ft. and is currently 90% let, producing a gross rental income of £910,310 per annum and a net income of circa £864,000 per annum. This represents a net yield of 8.1% after taking transaction costs into account.
09 Mar 2015
Acquisition of Bank House, Leeds
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Acquisition of Bank House, Leeds
Palace Capital plc (PCA:LON) | 238 0 0.0% | Mkt Cap: 89.2m
- Published:
09 Mar 2015 -
Author:
Chris Thomas -
Pages:
3
Palace Capital has exchanged contracts to buy Bank House in the centre of Leeds for a cash consideration of £10 million. The building comprises a net floor area of 88,000 sq ft. and is currently 90% let, producing a gross rental income of £910,310 per annum and a net income of circa £864,000 per annum. This represents a net yield of 8.1% after taking transaction costs into account.