REG - Palace Capital PLC - PORTFOLIO VALUATION AS AT 31 MARCH 2026

Palace CapitalAnnouncement

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RNS Number : 6564A  Palace Capital PLC  16 April 2026

LEI:2138009JDFQOXJFCJQ05

16 April 2026

Palace Capital plc

("Palace Capital" or the "Company")

PORTFOLIO VALUATION AS AT 31 MARCH 2026

As at 31 March 2026, the Company's portfolio has been independently valued by
CBRE at £31.3 million, a like-for-like decrease of c. 16% on the 30 September
2025 valuation.

The portfolio consists of four investment properties (Newcastle, Exeter,
Leamington Spa and Northampton) and one residential property, together with a
ground rent freehold interest (York).

The value of the three office assets fell by c. 11%, with St James Gate,
Newcastle accounting for most of the office portfolio valuation deficit. The
Forum, Exeter is currently under offer and the valuation of that asset
reflects the under-offer price, net of costs required to create vacant
possession (necessary to complete the sale).

The value of the remaining leisure asset, Sol, Northampton has fallen by c.
25% from £12.8 million as at 30 September 2025 to £9.6 million as at 31
March 2026. While the valuation decrease is significant, it is worth noting
that Sol, Northampton was valued at £9.7 million as at 31 March 2025.

As at 31 March 2026, the Company still owns eight apartments at Hudson
Quarter, York, valued at £2.95 million. Of these eight apartments, three were
under offer at the valuation date for net proceeds broadly in line with the
valuation (one sale has since completed on 1 April 2026).

The Company will release interim results for the period ended 31 March 2026 on
11 June 2026 which will include an unaudited NAV reflecting the updated
portfolio valuation as at 31 March 2026.

 

Enquiries:

 

Palace Capital plc

Christian Kappelhoff-Wulff, Non-Executive Chairman

ckw@palacecapitalplc.com

 

Financial PR

FTI Consulting

Dido Laurimore / Andrew Davis

Tel: +44 (0)20 3727 1000

palacecapital@fticonsulting.com

 

Broker

Cavendish

Matt Lewis, Head of Corporate Broking

Tel: +44 (0)20 7397 1920

mlewis@cavendish.com

 

This announcement contains inside information for the purposes of Article 7 of
the UK version of the Market Abuse Regulation (EU) No. 596/2014 as it forms
part of UK law by virtue of the European Union (Withdrawal) Act 2018, as
amended.

 

 

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