Key Points. Palace Capital has signed a new £26.5m loan facility with Barclays Bank to part-finance the development of Hudson Quarter in York (total estimated CAPEX of c.£37m). The remainder will be funded by the group using existing cash reserves of £13.8m (Sept 18). We see this as being positive news for the company as it seeks to unlock the potential for NAV accretion in coming years. We present a scenario whereby the group could generate c.£11m in development profi
07 Feb 2019
New debt facility for Hudson Quarter, York
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New debt facility for Hudson Quarter, York
Palace Capital plc (PCA:LON) | 235 16.4 3.1% | Mkt Cap: 88.3m
- Published:
07 Feb 2019 -
Author:
Kunal Walia -
Pages:
6
Key Points. Palace Capital has signed a new £26.5m loan facility with Barclays Bank to part-finance the development of Hudson Quarter in York (total estimated CAPEX of c.£37m). The remainder will be funded by the group using existing cash reserves of £13.8m (Sept 18). We see this as being positive news for the company as it seeks to unlock the potential for NAV accretion in coming years. We present a scenario whereby the group could generate c.£11m in development profi