Palace Capital Share Discussion Threads

[konradpuss] 29/1/2022 19:40

I wonder what wine bar Neil picked up the tip to buy the Maidenhead office investment?

If the tenant exercises the break in four years time that would not be great.

The yield is not bad, however where is this investment going? Every year that goes by the break is closer ergo the higher the yield.

I wonder if this self serving CEO will ever be got rid of.

I think Peter should up his stake and make an offer.

[spectoacc] 20/1/2022 16:05

PCA and RLE the two most deserving of big discounts :)

But hooray to the sustained rises we're seeing - finally getting through to people that NAVs are seriously on the up. Most of them doing in a qtr what you might normally be happy with over 12 months.

[hugepants] 20/1/2022 15:58

It seems like most reit share prices are returning to pre-pandemic levels. PCA (and RLE) look left behind a bit. This is on a 28% discount and yielding over 5%.
Selling the remaining Hudson quarter flats would help.

[baner] 19/1/2022 09:07

However a high value per sqft - not risk-free…R30;…….sinclair keen to spend money in order to not having to give it back to shareholders.

[nickrl] 17/1/2022 10:56

Finally struck out and not a bad yield for a quality location in the Thames Valley. Certainly replenishes some of the lost income from recent sales.

[cwa1] 17/1/2022 09:42

Palace Capital acquires Maidenhead office building for GBP10.25m

- Redeployment of disposal strategy proceeds underway -

Palace Capital (LSE: PCA) the Main Market property investment company that has a diversified portfolio of UK commercial real estate in carefully selected locations outside of London with a focus on the office & industrial sectors, announces that it has acquired 22 Market Street, an office building in the centre of Maidenhead, Berkshire for GBP10.25 million reflecting a net initial yield of 6.83%.

The transaction has been funded using both the existing NatWest revolving credit facility and proceeds from the Company's GBP30 million disposal strategy, which aims to generate capital from mature or non-core properties for redeployment into opportunities with more attractive returns profiles. Following this acquisition, and combined with the additional GBP1.3 million of annual income generated since the start of the financial year through active asset management, including lease renewals, rent reviews and new lettings, the new income added to the portfolio rent roll now exceeds in excess of GBP1million per annum, that was lost through the disposal programme.

[pdosullivan] 20/12/2021 17:42

It is remarkable seeing this company repeatedly demonstrating an ability to sell non-core assets at a premium to book value while the share price sits more than a pound a share below NTA per share.

[spectoacc] 20/12/2021 15:55

Lol @nickrl

[nickrl] 20/12/2021 15:39

banner i think it was supposed to read total return strategy "to directors"

[baner] 20/12/2021 14:42

"total return strategy" - if that is to reduce the NAV and share price, Sinclair has indeed been successful !!!

[nickrl] 20/12/2021 12:28

Couple more disposals done Sinclair remains as upbeat as ever

"12 of the 15 mature assets we identified last summer under our strategic disposal plan have now been sold for £28.2 million of the £30 million target. We are very pleased with the momentum we have been able to achieve with the implementation of the strategy and it puts us in a good position as we move into the new calendar year to take advantage of opportunities to redeploy the proceeds into properties with stronger growth potential, in line with our total return strategy."

Maybe there will be an Omicron dip they can take advantage of!!

[baner] 16/12/2021 09:55

So much for closing the gap between the NAV and the market price……………………;

[baner] 16/12/2021 09:45

I doubt he is the type who listen to shareholders…………..which is likely to be regarded as a merit at the Palace BOD.

[nickrl] 16/12/2021 09:29

Hopefully peter gyllenhammar has been on the phone to him to to get things moving along here

[baner] 16/12/2021 08:39

”ContinuesR30;…to generate attractive shareholder returens”???????? Where did he get that from ??

[cwa1] 16/12/2021 08:30

6 December 2021

Palace Capital PLC

("Palace Capital" or the "Company")

Appointment of new Chairman

Palace Capital is pleased to announce the appointment of Steven Owen as Chairman of its board of directors (the "Board"), with effect from 1 January 2022.

Steven is the Non-Executive Chairman of FTSE 250 property investment group Primary Health Properties plc ("PHP") having been appointed Chairman in April 2018. He was appointed to the Board as an independent Non-Executive Director in January 2014 becoming chairman of the Audit Committee and Senior Independent Director in April 2014. Steven has overseen PHP's significant corporate activity in the period including its merger with MedicX Fund Limited in 2019 and the internalisation of its management structure in January 2021 with both transactions creating significant shareholder value.

Steven began his earlier career with KPMG before moving into property with Brixton plc where he became Finance Director and subsequently Deputy Chief Executive.

Stanley Davis will stand down as Chairman and from the Board on 31 December 2021. The Board would like to thank Mr Davis for his considerable service to the Company since co-founding it in 2010.

Commenting on his appointment, Steven said: "I very much look forward to working with the Palace Capital Board and wider team as it continues with its strategic initiatives to generate attractive shareholder returns and close the current share price discount."

[spectoacc] 15/12/2021 14:34

What's the guessing "The Armchair Trader" knows somewhat less about PCA than anyone who posts on here :)

[nickrl] 15/12/2021 14:23

Armchair trader has a write up

hxxps://www.thearmchairtrader.com/palace-capital-share-price-forecast-pca/

not sure how they can claim its

"this UK property company is shrugging off the effects of Omicron" when we've no real idea how it might play out yet. The share price has come a fair bit since the article was authored so why they didn't update it before release today. Anyhow doesn't tell us anything new but maybe will give it a bit of support t this level.

[cwa1] 09/12/2021 16:44

Two shares traded at 290p in the UT take us higher at the close :-/

[baner] 09/12/2021 15:45

nice progress - we should see NAV of maybe 375p by year end. it is a pity the market does not trust the intentions of the management and BOD - Sinclair et al taking massive remuneration packages out, while not investing their own money in the stock. pathetic. unless they manage to better bridge the gap between the NAV and share price, this company will no doubt be bid for and/or liquidated as per shareholders instructions. under any circumstances the risk/reward looks OK and those who bought into this below 200p are to be congratulated.

[nickrl] 09/12/2021 08:56

Slow progress at Hudson but moving forward and nice to see another 22.5k for associated car parking spaces.

[cwa1] 09/12/2021 08:38

Palace Capital (LSE: PCA) the Main Market listed property investment company that has a diversified portfolio of UK commercial real estate in carefully selected locations outside of London with a focus on the office & industrial sectors, has leased a further 11,300 sq ft of grade A office space at its Hudson Quarter development in the City of York. The new letting brings office occupancy at Hudson Quarter, which completed in April of this year, to 41% with a further 3,600 sq ft currently under offer.

Also XD today, to be paid 31/12. 3.25p

[nickrl] 06/12/2021 09:58

Good sale price but Sinclairs becoming a stuck record over what he's going to do with the money other than pay his salary and bonus