Acquisition

RNS Number : 8968F

Primary Health Properties PLC

26 February 2015

 

Acquisitions

26 February 2015

Primary Health Properties PLC

£15.8 million of acquisitions

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 and acquire two new modern, purpose built medical centres to be constructed near Cardiff, South Wales and Colwyn Bay, North Wales and to acquire a let standing investment in Wiltshire.  The aggregate cost of the three properties will be £15.8 million and have been acquired from three separate vendors.

The two forward funded deals are expected to be completed in the next 12 months and will be let for an average term of 20 years.  The standing investment purchase has an average remaining lease term of 27 years.

Harry Hyman, Managing Director of PHP commented:

"These acquisitions demonstrate how we continue to grow our portfolio and to deliver shareholder value by acquiring high quality, modern and earnings enhancing healthcare centres.  We have now comfortably exceeded our target of owning gross value assets in excess of £1 billion. Importantly, our assets are in areas of the UK that increasingly require local integrated health services. Primary care centres are becoming ever more crucial to the makeup of today's NHS as they continue to help relieve the pressures on county hospitals and A&E departments by providing modern purpose-built healthcare facilities."

More information on Primary Health Properties PLC can be found on www.phpgroup.co.uk

Further details:

Harry Hyman Managing Director Tel: [phone]	Phil Holland Finance Director Tel: [phone]
Bell Pottinger David Rydell / Victoria Geoghegan / Elizabeth Snow Tel: [phone]	Tim Walker-Arnott Nexus TradeCo Limited Tel: [phone]

 

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