Acquisition

RNS Number : 6908F

Primary Health Properties PLC

25 November 2015

 

16 November 2015

Primary Health Properties PLC

Primary Health Properties PLC ("PHP"), the UK's leading investor in modern primary healthcare facilities, announces that it has contracted to fund and acquire a purpose built medical centre to be developed in Swindon Town centre.  The net consideration for the property will be £10.0 million (net assets acquired £10.0 million).

A wholly owned subsidiary of PHP has contracted to provide development funding for the construction of a new primary care centre as part of the redevelopment of a large city centre site in Swindon, which will be wholly owned by PHP upon its completion.  The property comprises of circa 2,500m² to be fully let to NHS Property Services Limited for a 20 year term from completion and occupied by two GP practices serving over 20,000 patients.  The construction work is expected to be completed by Q1 2017.

This acquisition increases PHP's portfolio to a total of 273 assets with a gross value of £1.1 billion.

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]
Tim Walker-Arnott Nexus TradeCo Limited Tel: [phone]
Victoria Geoghegan / Elizabeth Snow / Eve Kirmatzis Bell Pottinger T [phone]

 

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