REG - Primary Health Props - Acquisition

Primary Health PropertiesAnnouncement

17/12/2021 07:00

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RNS Number : 9576V  Primary Health Properties PLC  17 December 2021

Primary Health Properties PLC

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 agreed to acquire a
medical and office facility in the North East of England for a total
consideration of £10 million.  The acquisition will complete when a current
comprehensive refurbishment of the premises is finished, which is expected to
occur in Qtr 2 2022.

 

The property comprises medical and office space arranged over five floors. On
completion of the refurbishment, the NHS tenant will enter into a new long
term lease, with index-linked rent reviews. The acquisition will be accretive
to the overall portfolio WAULT and provide 100% government backed income.

 

This acquisition will increase PHP's portfolio to a total of 521 assets, of
which 20 are in Ireland, with a contracted rent roll of over £140 million.

 

Harry Hyman, CEO of Primary Health Properties, commented:

 

"We are delighted to be making this acquisition of a newly refurbished
building, comprising a mix of clinical space, delivering important NHS
services in the area, and ancillary office accommodation on a long-lease.
The refurbishment of the building will include the installation of an entirely
electric energy system allowing the tenant to power the building from entirely
renewable sources and significantly improve the environmental performance."

 

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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