Acquisition

RNS Number : 9986R

Primary Health Properties PLC

11 November 2021

 

Primary Health Properties PLC

("PHP" or the "Group")

Acquisition

Primary Health Properties PLC, one of the UK's leading investors in modern primary healthcare facilities, announces that it has acquired the entire issued share capital of Peak Health Solutions Limited, whose sole asset is the Lambgates Health Centre, Glossop for a total consideration of £5 million. 

The property is a modern, purpose-built primary care facility which is fully let to a GP practice providing 100% government backed income. The lease has an unexpired term of over 20 years which is accretive to the overall portfolio WAULT and the lot size is in line with the portfolio average. 

The medical centre supports 6,500 patients and is a key facility in the local health economy, being one of the only purpose-built buildings in the area.

PHP's portfolio now comprises a total of 518 assets, of which 20 are in Ireland, with a contracted rent roll of over £139 million.

Harry Hyman, CEO of Primary Health Properties, commented:

"We are delighted to have acquired this modern primary care centre built in 2012 to BREEAM excellent standards with photo-voltaic panels on its roof.  This is in line with our strategy of ensuring our property portfolio reflects our focus on sustainability.

"We have a strong pipeline of opportunities in the UK and Ireland and are well positioned to continue to grow our portfolio as we 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

Further details:

Harry Hyman Chief Executive Officer Tel: [phone]		Richard Howell Chief Financial Officer Tel: [phone]
David Rydell / Steph Whitmore / Tilly Abraham (Buchanan Communications) Tel: [phone]

Legal Entity Identifier: 213800Y5CJHXOATK7X11

 

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