Palace Capital PLC Boulton House disposal
April 29 2024 - 7:15AM
RNS Regulatory News
RNS Number : 4439M
Palace Capital PLC
29 April 2024
29 April 2024
Palace Capital plc
("Palace Capital" or
the "Company")
Boulton House disposal
Palace Capital today announces that
it has conditionally exchanged contracts for the sale of Palace
Capital (Manchester) Limited, a wholly owned subsidiary of Palace
Capital plc, whose sole asset is Boulton House Manchester, an
office building in the centre of Manchester, to The James (M1
Living) Limited, a special purpose vehicle, for a cash
consideration of £8.75 million, which reflects a NIY of 8.7%. The
disposal is at the 31 March 2024 book value and 2.8% below the 30
September 2023 book value of £9.0 million. Completion of the
transaction will be in 12 weeks' time.
Commenting on today's sale, Steven Owen, Executive Chairman
said:
"The disposal of Boulton House
demonstrates continuing progress in our disposal strategy and on
completion will provide additional cash for
returning to shareholders in due course."
Palace Capital plc
Steven
Owen, Executive Chairman
info@palacecapitalplc.com
Financial PR
FTI
Consulting
Dido Laurimore / Giles Barrie
Tel: 44 (0)20 3727 1000
palacecapital@fticonsulting.com
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