Palace Capital (PCA) at ShareSoc, Richmond 2nd November 2016
Length: c. 55 mins)
Neil Sinclair (CEO) presents with Stephen Silvester (FD) and Richard Starr (Exec Dir).
Palace Capital was founded in 2010. Here, the management outline the history through to today. Of course, 2016 was marked by Brexit, and investors negative sentiment to real estate, although PCA have noticed no impact.
Palace Capital focus on commercial (mainly offices) and residential real estate outside London. They seek opportunities with the possibility to add value, to generate higher rental income and higher asset value; many examples of sites and rational are given throughout the presentation.
Neil Sinclair is obviously a highly experienced property man. PCA are highly selective in purchases, with much due diligence, management personally inspecting properties and speaking to locals to suss out the opportunity. Obviously location is key, and proximity to rail stations is one criteria. They often identify distress sales, which at face value might not appear distressed. Sometimes they purchase the whole company purely to acquire the property assets, as a way around stamp duty. They often benefit by timing negotiations seasonally. It appears to culminate in shrewd acquisitions.