Posted on 21 Jun 2016

Palace Capital acquires Manchester office building


Palace Capital PLC, the property investment company that focuses on commercial property outside London, announces that it has exchanged contracts to acquire the freehold of Boulton House, Chorlton Street, Manchester for a consideration of £10.95 million.

This is potentially subject to a downward adjustment of up to £0.4 million for rent guarantees and other costs.

Completion is set for 30 September 2016. The acquisition is being funded by a new debt facility from one of Palace Capital's existing lenders and credit committee approval has been received.

At 1:30pm: (LON:PCA) Palace Capital PLC share price was 0p at 362.5p