Palace Capital secures £40m credit facility


Property investor Palace Capital said it had secured a new secured £40m revolving credit facility from NatWest with a maturity of five years.

The new debt package replaced a current £29.4m NatWest facility.

Palace Capital said the new facility provided it with 'additional firepower over current drawings to support operational flexibility, deliver further portfolio initiatives and offers wider scope for new investments that meet the company's selective investment criteria'.

Related content

Palace Capital revives dividend as earnings improve

Property investor Palace Capital revived dividend payments even as it reported a full-year loss driven by negative property revaluations.

Pre-tax losses for the year through...

Tue, 07/07/2020 - 09:01

Palace Capital signs up Knights to occupy York office in 'record' deal

Property investor Palace Capital said it had set a record office rent in York city in the UK with the completion of a pre-let agreement...

Mon, 10/02/2020 - 07:32

Palace Capital completes sale of office asset in Birmingham

Palace Capital said it had surrendered its short leasehold interest at Priory House in Digbeth, Birmingham for a nominal sum of £25k.

The company said...

Mon, 09/12/2019 - 07:45

Palace Capital holds dividend steady as underlying performance improves

Property investor Palace Capital booked a lower first-half profit due to lower revaluation gains, though its underlying performance improved.

Net profit for the six months...

Tue, 19/11/2019 - 09:58

Palace Capital says interest in York development stronger than expected

Property group Palace Capital said interest in its Hudson Quarter development in York had been stronger than expected, with 22 apartments now reserved and deposits...

Fri, 12/07/2019 - 07:22