Palace Capital Selects Caddick Construction To Build Hudson Quarter

LONDON (Alliance News) - Palace Capital PLC said Monday it has selected Caddick Construction Ltd ...

Alliance News 11 February, 2019 | 12:12PM
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LONDON (Alliance News) - Palace Capital PLC said Monday it has selected Caddick Construction Ltd for the construction phase of its GBP35 million Hudson Quarter property development in York, England.

"We are delighted that we will be working with Caddick Construction over the next two years to construct this exciting development situated only one minute's walk away from York Railway Station and within the historic walls of York City," said Chief Executive Neil Sinclair.

Palace Capital said demolition has already been completed and construction is expected to start this month with completion expected early 2021. The development scheme will comprise of 127 apartments, 34,500 square foot offices and 5,000 square foot of commercial space.

Shares in Palace Capital were down 1.8% Monday at 306.40 pence each.

Last Thursday, the property investor agreed a new GBP26.5 million secured loan facility with Barclays Bank PLC to fund the project.

By Paul McGowan; paulmcgowan@alliancenews.com

Copyright 2019 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article
Security Name Price Change (%) Morningstar Rating
Palace Capital PLC 285.00 GBX 1.79 -
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