OUR APPROACH TO CORPORATE RESPONSIBILITY

At Palace Capital, we believe in conducting our business activities ethically and responsibly. With £278m invested in commercial property across the UK, our shareholders depend on us to protect their assets in a safe, secure and responsible manner.

Our approach to Corporate Social Responsibility (CSR) seeks to reduce the negative impacts our operations may have on the environment and society as a whole. The current pace of technological, social and environmental change means we must continuously adapt to ensure we are meeting the needs of our tenants, our employees, the communities within which we invest, and those we work with on a day to day basis.

Case Study

Sustainable building

Through effective asset management, we are seeking to reduce our energy and resource consumption and minimise the impact our assets have on the natural environment.

Sol, Northampton

  • This site is low risk of flooding for rivers and ground water.
  • Smart meters are installed.
  • Photocells are installed in public areas improving energy efficiency.
  • Recycling protocols are in place, including cardboard balers which help improve waste management.

Case Study

One Derby Square - Liverpool

At One Derby Square we have taken a range of actions to improve the efficiency of the building:

  • Electricity supplies are 100% renewable energy, obtained from a combination of wind, solar panels, biomass, and biogas.
  • Water tanks on the roof have reduced the water held on site.
  • Robust recycling policies are in place and we encourage all our occupiers to recycle, including the retail occupiers who are responsible for their own waste.

TENANTS

We value our customer relationships and the property team inspect our buildings as regularly as possible, engaging with occupiers to understand their business needs. This ensures that our strategies for each property are current and flexible enough to be adapted to changing occupier demands.

During 2019, we undertook a satisfaction survey of our 200+ occupiers. We asked occupiers to rate their overall satisfaction with Palace Capital as a landlord, as well as a range of other aspects, including: the overall management of their building, their facilities and whether the building met their overall needs and expectations. We will repeat this process regularly. Through effective asset management, we are seeking to reduce our energy and resource consumption and minimise the impact our assets have on the natural environment.

We recognise that in order to meet our tenants needs and be a responsible landlord our strategy must address the accelerating industry and global challenges in the built environment. Not only will this future-proof our business and ensure we are resilient, but it will also bring greater consistency and efficiency across our portfolio management.

We continue to engage with our sustainability consultants, property managers and occupiers to implement sustainability improvements at each asset

COMMUNITIES

We believe in making a positive difference to the communities in which we live and serve. In 2019/20 our charitable donations reached over £19,335. A large benefactor of our philanthropic activity was Variety, the Children’s Charity, focusing on improving the lives of sick, disabled or disadvantaged young people.

It has been an honour to engage with the York community in a myriad ways including sponsoring the annual ice trail, donating theatre tickets to hundreds of disadvantaged children at the Rose Theatre pop up production and most notably, making the most of the Company’s valued collaboration with Fuse Architects & Caddick Construction who joining forces for our sponsored a go-kart in York’s annual Micklegate go-kart run which raised money for charity.

OUR WORKFORCE

We recognise the importance of each and every employee and seek to be an ethical and progressive employer. This means encouraging a culture of openness, collaboration and continuous professional development and rewarding the effectiveness and loyalty of our employees.

We provide fair salaries with a competitive benefits package and all employees participate in the Company’s Long-Term Incentive Plan. A thorough annual appraisal process is conducted, and we regularly invest in employee’s development needs allowing them to reach their full potential.

To ensure the Board has a comprehensive understanding of the views of the workforce a formal Workforce Advisory Panel meets at least twice every year. This forum provides employees with an opportunity to discuss and debate matters across the business. Feedback from the panel is provided directly to the Board of Directors.