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AH Medical Properties Plc (AHMP)

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Friday 20 November, 2009

AH Medical Properties Plc

Acquisition(s)


20 November 2009

AH MEDICAL PROPERTIES PLC

PURCHASE OF PROPERTIES

AH Medical Properties plc acquires £11.8m of Primary Care Properties from
Lloyds Pharmacy

AH Medical Properties ("AHMP"), a leading primary care medical property
investment group, is pleased to announce that it has completed the acquisition
of four properties from Sapphire Primary Care Developments Ltd, formerly a
subsidiary of Lloyds Pharmacy.

The four properties are located in Rugeley, Staffordshire; Didcot, Oxfordshire;
Davyhulme, Manchester; and Kincaidston, Ayr.

All are new purpose built primary healthcare facilities completed between 2007
and 2009 and have an average unexpired lease term of 19.3 years. The tenants
are GPs, subject to full rent re-imbursement with one lease directly with the
Primary Care Trust, and Lloyds Pharmacy who operate a pharmacy in each of the
four properties. The total passing rent is £778,887 p.a. of which over 30% is
subject to fixed or rpi linked rent reviews.

Shortly after the acquisition of these properties, Ashley House plc acquired
the business of Sapphire Primary Care Developments Ltd which comprises an
experienced primary care development team and a pipeline of further primary
care and pharmacy projects. These will be developed through the enlarged Ashley
House team with the resulting investments being offered to AHMP.

Following this acquisition of the four properties, the total gross value of the
AHMP property portfolio has grown to approximately £108m.

AHMP Chairman Giles Weaver commented "This represents an excellent acquisition
for AHMP of new high quality properties including, for the first time, a
property in Scotland where future opportunities exist within the Sapphire
pipeline."

The directors of AH Medical Properties plc accept responsibility for this
announcement.

ENQUIRIES:

AH MEDICAL PROPERTIES PLC Tel: 01628 600 340

Bruce Walker, Chief Executive

CITIGATE DEWE ROGERSON Tel: 0207 638 9571

Sarah Gestetner/ Ged Brumby


                                   

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