Palace Capital Share Discussion Threads

[davidosh] 05/11/2018 15:17

Just a reminder that Palace Capital will be exhibiting and presenting at our MelloLondon investor event in Chiswick W4 next month so the perfect opportunity to ask even more questions and discuss the strategy with management. MelloLondon is a two day event and starts on Monday 26th November through to Tuesday 27th November. You can find out more here...



There will be 65 quality companies exhibiting and presenting plus some very well known investors, entrepreneurs, fund managers and market commentators providing excellent keynote talks on a range of investment subjects. A number of investment workshops will be available each day and a ShareSoc MasterClass on the final day.

[hugepants] 05/11/2018 12:33

Can you post a link to the zoopla data?

According to this rental prices in Hayes are up 8.9% up to Q3 2018

[mushypeas] 05/11/2018 11:06

The figures published by Zoopla for residential sales in the Hayes area sugest a fall in value of 5.5 to 6% for the period in question, equivalent to a N.A.V. reduction of 2.8 pence per share.
We await a revaluation of the entire Warren portfolio, but clearly at todays S.P. the market remains unconvinced.

[jombaston] 05/11/2018 09:59

The residential portfolio has been for sale - we will get an update at the ints on 26/11/18.

As previously noted, the part sale earlier was at above book value. The properties are in Hayes, which I guess has different dynamics to central London especially as Crossrail will be coming in 2019. We are talking £21.7m of a £276.7m portfolio though so a few % either side of book value won't impact the overall portfolio by much. More importantly, a sale will enable the cash to be recycled into PCA's profitable commercial property activities.

[ntv] 04/11/2018 21:25

You will be OK probably if you are an II but PI's get screwed in discount placings
Other property co's that don't do placing at deep discount offer better value long term
I got screwed here so i won't be back.
couldn't get a short on at that time maybe a some point in the future if there looks to be a property crash

as others have pointed out they are not strictly a commercial property company outside of London
post 474 says it all, something they just want others not to know or forget about

[peterjw] 04/11/2018 21:06

Thanks for everyone's input. I hold pca by the way. I will follow up your links. On the face of it I think they look shrewd and HQ ought to be successful.i am not sure why their share price has languished though? Perhaps because they are new to the main markets and iĺliquid.
Great to have positive input and let's push for them to do well.

[hugepants] 04/11/2018 19:54

It looks like they got a good deal. They've already sold 5% of the residential portfolio at 14% above book value



"Ongoing discussions to sell 60 of the RT Warren residential units with 3 residential units already sold at 14% above book value (2 units will be retained by the Company for strategic reasons)"

[bscuit] 04/11/2018 18:36

As I recollect the shareholder annoyance was that a full price without volume discount was paid.

[dendria] 04/11/2018 18:03

Peterjw – as far as I’m aware, the ‘residential’ holding was acquired with the RT Warren portfolio and is outer London - it accounts for less than 10% current portfolio and will probably be sold off.

[peterjw] 04/11/2018 17:36

Thank you. I did research but didn't recognise what your comments referred to. I asked the question purely to learn and improve my knowledge of PCA. It seems a pity that we are not able to share information freely which should be of benefit to all of us. I had assumed that as we on a PCA board we would have a mutual interest in sharing information to piece together a better picture of the company.

Thank you for your response. No offence taken.

[ntv] 04/11/2018 16:56

you need to DYOR, no offence intended
especially before buying any company

[peterjw] 03/11/2018 16:42

NYV

Which properties are these/which portfolio were they bought with please? Appreciate your views, thank you.

[ntv] 03/11/2018 07:58

Notice of Interim Results

Palace Capital (LSE: PCA), the real estate investment company that focuses on UK commercial property outside of London, intends to announce interim results for the six months ended 30 September 2018 on Monday, 26 November 2018.

oh yes we forgot mention all the houses we bought in London at the top of the market
atb
BoD

[peterjw] 02/11/2018 16:28

For anyone interested there is a positive article about Palace Capital in Property week which can be read from PCA website. Also Hudson Quarter now has its own website if anyone is following the York development, which I am! Also their interims are out 26 November.

[contrarian joe] 31/10/2018 21:43

Abnormal discount!!,is the market telling us "somethings not right",was the last acquisition which came with a portfolio of London houses purchased at the top of the market!!. Hope not for myself & holders on here.

[mister md] 31/10/2018 19:04

agreed, very good value

[hugepants] 30/10/2018 13:38

300p to buy now. That's 6.3% yield, 27% discount to NAV and 30% LTV. Looks very good value.

[bscuit] 19/10/2018 11:03

CWA- agreed

[bscuit] 19/10/2018 11:02

CWA- agreed

[cwa1] 19/10/2018 07:51

Rubbish. davidosh is a respected investor that has done more than most to put companies in front of real punters to tell their story. If anyone is interested in PCA why wouldn't they be potentially interested in seeing and hearing from them and knowing about such events?

[sefton1] 19/10/2018 02:06

davidosh spam

[davidosh] 18/10/2018 21:50

Just to let you all know that Palace Capital will be exhibiting and presenting at our MelloLondon investor event in Chiswick W4 next month. MelloLondon is a two day event and starts on Monday 26th November through to Tuesday 27th November. You can find out more here...



There will be 65 quality companies exhibiting and presenting plus some very well known investors, entrepreneurs, fund managers and market commentators providing excellent keynote talks on a range of investment subjects. A number of investment workshops will be available each day and a ShareSoc MasterClass on the final day.

[peterjw] 02/10/2018 08:05

Yes indeed. A positive RNS by the look of it.

[davebowler] 02/10/2018 07:46

At last some good news.

[cwa1] 02/10/2018 07:43

2 October 2018

Palace Capital PLC

("Palace Capital" or the "Company")

20 YEAR LEASE AGREED WITH ALDI AT GOSPORT

Palace Capital (LSE: PCA), the property investment company that focuses on commercial property outside London, has signed a new 20 year lease with Aldi, the German discount supermarket chain, at its property in Gosport, Hampshire, securing a 17.4% uplift in rental income.

The asset was originally acquired in October 2017 as part of the GBP71.8 million RT Warren portfolio and the new lease terms are reflective of the long term rental and capital growth opportunities originally identified by the Company and which are being captured through active asset management.

Aldi previously leased a 16,500 sq ft supermarket on the site from RT Warren on a lease expiring in August 2030 at a rental of GBP247,800 per annum. This existing lease has now been surrendered and a new 20 year lease has been agreed with the Company, which also now includes a small amount of additional land for car parking, until September 2038 without break at an increased rental of GBP291,000 per annum. A rent review will be undertaken every 5 years, based on the Retail Price Index with a collar of 1% and a cap of 2.75% which compounds annually.

The property will continue to be held as a long term investment by Palace Capital.

Neil Sinclair, Chief Executive of Palace Capital, commented: "When we acquired the RT Warren portfolio, which was the best portfolio we had seen in the UK property market for some time, we knew that it contained significant latent potential that we would be able to unlock with our asset management expertise, and this new deal is a strong example of that. We have increased our income and lease term to 20 years to a strong covenant which has a positive effect on the value of this property. We continue to actively asset manage the other properties within the RT Warren portfolio and look forward to updating the market on our progress in due course."