Business
Major planning consent secured in York
Major planning consent secured in York.
About this update from Palace Capital Plc
[{"type":"text","content":"\n \nRNS Number : 3453O Palace Capital PLC 18 August 2017 \n\nPalace Capital plc\n(\"Palace Capital\" or the \"Company\")\n \nPalace Capital secures major planning consent in York\n \nPalace Capital, the property investment company that focuses on commercial property outside London, today announces that its planning application for a major development on the Company's 2-acre site at Hudson House, Toft Green, York was granted, subject to conditions, by City of York Council yesterday evening.\n \nHudson House, which is within the City Walls, and only one minute's walk from York Railway Station, is a 1960s office building with a lettable floor area of 103,000 sq ft.\n \nFollowing extensive consultations, the Company submitted a new planning application in March of this year to demolish the existing property and erect four new buildings comprising a total net area of 132,893 sq ft. Under the plans, three of the buildings will have a total of 127 apartments and 5,000 sq ft of commercial/restaurant space, whilst the other will comprise 34,000 sq ft net of Grade A offices. \n \nNeil Sinclair, the Chief Executive of Palace Capital, commented: \"Hudson House was part of the Sequel Portfolio which we acquired from Quintain in 2013 and where we already have two other planning approvals. We are very excited about the prospects for this site and now we have consent we will be focusing on how best to maximise shareholder value whilst limiting the risk to our Company.\"\n \nDate: 18 August 2017\n \nFor further information, contact:\n \nPalace Capital plc\nNeil Sinclair, Chief Executive\nStephen Silvester, Finance Director \nTel. +44 (0)20 3301 8331\n \nAllenby Capital Limited (Nominated Adviser and Joint Broker)\nNick Naylor / James Reeve\nTel. +44 (0)20 3328 5656\n \nArden Partners plc (Joint Broker)\nChris Hardie / Ciaran Walsh\nTel. +44 (0)207 614 5917\n \nCapital Access Group (Financial PR)\nScott Fulton\nTel. +44 (0)20 3763 3400\n \nAbout Palace Capital plc (www.palacecapitalplc.com):\n \nPalace Capital is a UK property investment company admitted to trading on the AIM Market of the London Stock Exchange (LSE: PCA). The Company is not sector specific and looks for opportunities where it can enhance the long-term income and capital value through asset management and str...