REG - Primary Health Props - Acquisition

Primary Health PropertiesAnnouncement

14/12/2021 07:00

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RNS Number : 4928V  Primary Health Properties PLC  14 December 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 Parkside
Medical Centre in Boston, Lincolnshire for a total consideration of £6.8
million.

 

The property is fully let to a substantial GP practice and a pharmacy.  The
two leases, with a weighted average unexpired lease term ("WAULT") of 13.5
years, are accretive to the portfolio WAULT and provide for a substantial
proportion of government backed income.

 

This acquisition will increase PHP's portfolio to a total of 520 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 be making this acquisition of a modern, purpose-built
facility in Boston.  Originally constructed in 2009, the property was
extended in 2013/14 in order to provide the range of medical services required
by the local community, which has allowed the patient list to grow
significantly.

 

"We have a strong pipeline of opportunities in the UK and Ireland and
are well positioned to continue to grow our portfolio and to 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 (http://www.phpgroup.co.uk/)

 

Further details:

 

 Harry Hyman                                                    Richard Howell

 Chief Executive Officer                                        Chief Financial Officer

 Tel: +44 (0) 20 7451 7050                                      Tel: +44 (0) 20 7104 5599
 David Rydell / Steph Whitmore / Tilly Abraham

(Buchanan Communications)

 Tel: +44 (0) 20 7466 5066

 

 

 

Legal Entity Identifier: 213800Y5CJHXOATK7X11

 

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