Hardman & Co Research
Hardman & Co Research: Palace Capital (PCA): Encouraging full-year results
14-Jul-2020 / 15:05 GMT/BST
Hardman & Co Research: 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 GBP70m
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.
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1093725 14-Jul-2020
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(END) Dow Jones Newswires
July 14, 2020 10:05 ET (14:05 GMT)
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