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Palace Capital plc announced its portfolio was independently valued by CBRE at £31.3 million as at 31 March 2026. This reflects a like-for-like decrease of approximately 16% compared to the 30 September 2025 valuation. The portfolio includes four investment properties, one residential property, and a ground rent freehold interest, with eight apartments valued at £2.95 million also held.
| Date | 16 Apr 2026 |
| Time | 07:00:05 |
| Category | Corporate updates |
| ID | 6564A |
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.