31 May 2017
Primary Health Properties PLC
Acquisition of 300th Primary Care Centre
Primary Health Properties PLC ("PHP"), the UK's leading investor in modern primary healthcare facilities, announces that it has contracted to fund the development of a purpose built primary care centre in Churchdown, Gloucestershire.
A wholly owned subsidiary of PHP has contracted to provide development funding for the construction of the property for a total cost of £5.0 million (net assets acquired of £5.0 million), which will be wholly owned by PHP upon its completion.
The property will comprise an area of 1,184 m2 to be fully let for 20 years from completion to a GP surgery with a patient list of over 13,500, in addition to a pharmacy.
This acquisition will increase PHP's portfolio to a total of 300 assets with a gross value of circa £1.25 billion and a contracted rent roll of just over £70 million.
Harry Hyman, Managing Director of Primary Health Properties, commented:
"This acquisition takes PHP to another notable milestone, being the acquisition of our 300th asset. The property further grows the portfolio, adds to the Groups rental income and generates shareholder value by delivering a new, purpose built facility with a long unexpired lease term. We have a strong pipeline of opportunities in the UK and Ireland and are well positioned to continue to grow our portfolio and to support the healthcare systems in these markets through the provision of modern, primary care infrastructure."
More information on Primary Health Properties PLC can be found on www.phpgroup.co.uk
Tel: +44 (0) 20 7451 7050
Tel: +44 (0) 20 7104 5599
David Rydell / Elizabeth Snow /
T +44 (0) 20 3772 2582
This information is provided by RNS