23rd March 2016
Hamlins advises Palace Capital plc on £24.2 million leisure acquisition
Hamlins is delighted to announce that it has advised long-standing client, AIM-quoted Palace Capital plc, on its acquisition of Gregory Projects (Halifax) Limited, bringing Broad Street Plaza Halifax, yet another significant leisure complex, into the client’s portfolio.
The transaction drew on a combination of the firm’s leading corporate AIM and M&A expertise, its depth of knowledge in the leisure sector and market leading real estate practice.
Simultaneously with this deal, the firm’s real estate finance team significantly advised Palace Capital on the terms of a new revolving credit facility with NatWest Bank.
The Hamlins team comprising 19 fee earners was led by corporate head Daniel Bellau and real estate partner Mark Hurst, with support from corporate associate Charlotte Allan, real estate associate Tessa Hardy. The debt side was led by real estate finance partner Charles Bezzant.
Daniel Bellau explained,
“This is the sixth transaction in five years for our long-standing client Palace Capital and reflects their continued focus on growth. We are extremely pleased to have supported Palace Capital on this transaction which drew on our substantial leisure sector expertise and is representative of the continuing busy transactional activity amongst Hamlins’ corporate and real estate clients generally.”
Neil Sinclair, CEO of Palace Capital commented,
“Palace Capital is delighted to announce another significant acquisition of a major regional leisure scheme. Broad Street Plaza was chosen by The Variety Yorkshire Property Awards in 2012 as the Development of the Year. Hamlins have given Palace their undivided support throughout this transaction, and our previous ones, and impressively pulled together a number of moving parts to bring the deal together to exchange.”