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Palace Capital accepts tender for demolition of Hudson House office building in York

By BFN News | 07:36 AM | Monday 12 February, 2018


Palace Capital said it had accepted a tender for the demolition of the Hudson House office building in York. A contractor was on site and the demolition was scheduled to take around seven months. The company said it had instructed its rating advisers to apply to have the property removed from a valuation list, as it would no longer be capable of beneficial occupation. If approved, that would reduce the annual outgoings of the company by around £750,000 a year. 'This is the first stage in implementing the planning consent for this exciting scheme close to York Station in one of the fastest growing cities in the UK,' chief executive Neil Sinclair said. 'At the same time, we will be reducing our outgoings by a very significant amount thus increasing the net income for the benefit of our shareholders.' Story provided by StockMarketWire.com

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