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Primary Health Props (PHP)

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Tuesday 26 August, 2014

Primary Health Props

Acquisition

RNS Number : 9645P
Primary Health Properties PLC
26 August 2014
 



 

News Release

 

 

26 August 2014

 

 

 

Primary Health Properties PLC

 

Primary Health Properties PLC ("PHP"), the UK's leading investor in modern primary healthcare facilities, announces that a wholly owned subsidiary has acquired three modern, purpose built health centres for a total cost of £14.3 million.

 

The properties, details of which are set out below, have all been built within the last two years and have a weighted average unexpired lease term of 26 years.

 

Asset

Size sqm

WAULT

Tenants

Hume Street Medical Centre, Kidderminster

2,387

28 years

GP practices and pharmacy

South Petherton Medical Centre, South Petherton

916

18 years

GP practice and pharmacy

West One Surgery, Crewkerne

310

19 years

GP practice

 

In addition, a pipeline agreement has been completed, giving PHP exclusive rights to acquire three further medical centres that are to be developed by the vendor.  These are all expected to reach financial close during 2014 and be completed within the 12 to 15 months thereafter.  These assets are expected to cost a total of £10.9 million and be fully let upon completion for an average term of 22 years.

 

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

 

 

 

 

Further details:

 

Harry Hyman

Managing Director

Primary Health Properties PLC

Tel: 020 7451 7050

 

Phil Holland

Nexus TradeCo Limited

Tel: 020 7104 5599

 

Bell Pottinger

David Rydell / Victoria Geoghegan / Elizabeth Snow

Tel: 0203 772 2562

Tim Walker-Arnott

Nexus TradeCo Limited

Tel: 020 7104 5599

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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