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PHP buys healthcare centre in Cork

By BFN News | 09:14 AM | Thursday 14 December, 2017


Primary Health Properties (PHP) has agreed to acquire a large modern primary healthcare facility in County Cork, Ireland for a total cost of €20 million. The centre comprises a lettable area of circa 6,500m2 and will be fully let. The Health Service Executive (HSE) has committed to a new 25 year lease representing circa 65% of the total rent roll. The HSE is the government's executive agency which provides Ireland's public health services in communities across the country. The remainder of the rent roll comes from four separate GP practices, who have entered into long leases and other complimentary tenants including a dentist, optician and physiotherapist. This acquisition, PHP's third in Ireland, increases PHP's portfolio to a total of 307 assets, with a gross value of over £1.35 billion and a contracted rent roll of just over £73 million. At 9:14am: (LON:PHP) Primary Health Properties Plc share price was -0.62p at 113.63p Story provided by StockMarketWire.com

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