REG - Primary Health Props - Acquisition

Primary Health PropertiesAnnouncement

01/04/2022 07:00

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RNS Number : 8545G  Primary Health Properties PLC  01 April 2022

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 a newly
refurbished clinical facility in Chertsey, Surrey for a total consideration of
£6.95 million.

 

The property is let on a new 20-year FRI lease to the Surrey and Borders
Partnership NHS Foundation Trust (the "Trust") and benefits from RPI led rent
reviews. The Trust will mainly be providing Drug and Alcohol rehabilitation
services from the building together with office based administrative
functions.

 

This acquisition is accretive to the overall portfolio WAULT and will increase
PHP's portfolio to a total of 522 assets, of which 20 are in Ireland, with a
contracted rent roll of £141 million.

 

Harry Hyman, Chief Executive Officer of Primary Health Properties, commented:

 

"We are delighted to be making this acquisition of a healthcare asset that
houses services being relocated from the nearby St Peter's Hospital in line
with the NHS's strategy of moving ancillary services away from hospital
settings. Originally constructed in the late 1990's the property has
undergone a comprehensive refurbishment, which will also enhance the buildings
environmental credentials, to provide clinical accommodation on the ground
floor and office space on the upper floors.

 

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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